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Hong Kong Trade Fairs Totaled 85K Visitors, Diamond Traders Optimistic

The fourth Hong Kong International Diamond, Gem & Pearl Show (28 February-4 March) and the 34th Hong Kong International Jewellery Show (2-6 March) featured about 4,480 exhibitors, and attracted over 85,000 buyers from 144 countries and regions, up six percent over last year, according to organizer Hong Kong Trade Development Council (HKTDC).

More than 33,000 buyers visited the Diamond, Gem & Pearl Show, while some 52,000 visitors attended the Jewellery Show. “Despite economic challenges, especially in the luxury goods market, the two shows attracted a record number of buyers. The exhibitors are also generally satisfied with the results at the two shows,” said Benjamin Chau, Deputy Executive Director, HKTDC. “This demonstrates that the jewelry industry remains confident about business prospects this year.”

Several reports note that diamond demand was up and traders are optimistic after the show.

Rapaport News notes, “Buyers did better than sellers as suppliers were willing to compromise on price in order to generate liquidity and reduce inventory before new better-quality polished production becomes available.” All in all, they note “positive” and “optimistic” sentiments prevailing post-trade fair in the U.S., Belgium, Israel, India and Hong Kong itself. According to the news site, “Chinese independent retailers shifting to lower price-points signaling a change in consumer demand,” while, “Yuan depreciation against the dollar (-6.4% in the past year, -0.5% this week) is limiting buyers’ budgets.”