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【Hong Kong, C】Jewelry Twin Fairs Attract Over 80,000 Global Buyers; Over 60% of Industry Expect Overall Sales to Rise in the Next One to Two Years

Mar 4, 2024

Editor’s Note

**Editor’s Note:** This year’s twin jewellery fairs in Hong Kong set a new attendance record, drawing over 4,000 exhibitors from 44 countries and regions. The event marked the first full resumption of the “two shows, two venues” format since the pandemic.

Record-Breaking Attendance

The 40th Hong Kong International Jewellery Show and the 10th Hong Kong International Diamond, Gem & Pearl Show, organized by the Hong Kong Trade Development Council (HKTDC), brought together over 4,000 exhibitors from 44 countries and regions. The Jewellery Show concluded today (March 4) at the Hong Kong Convention and Exhibition Centre, while the Diamond, Gem & Pearl Show ended last Saturday (March 2) at the AsiaWorld-Expo. This year’s exhibition was the first to resume the “two shows, two venues” model since the pandemic.
The twin fairs attracted approximately 81,000 buyers from 137 countries and regions to source in person. This included over 31,000 buyers from 125 countries and regions at the Diamond, Gem & Pearl Show, and over 49,000 buyers from 132 countries and regions at the Jewellery Show. Excluding Hong Kong, the main buyer sources were Mainland China, India, Japan, the Philippines, Thailand, and the United States, underscoring the international status of the twin fairs.

Optimistic Industry Outlook

A survey conducted on-site with 1,435 exhibitors and buyers revealed that over 60% (62.3%) of respondents expect overall sales to increase in the next 12 to 24 months. More than 30% (31.3%) anticipate sales to remain stable, while only about 6.4% predict a decline, reflecting a vibrant and promising future for the jewelry industry.

“This year’s twin fairs successfully attracted buyers from around the world to return to Hong Kong for sourcing, and we are very encouraged. Many exhibitors reported that buyers were actively purchasing and that they connected with new customers from emerging markets, which will help drive business growth.”

Sophia Chong, Deputy Executive Director of HKTDC, added:

“As we enter the exhibition season, the HKTDC will organize about ten trade fairs next month, spanning industries such as technology, electronics, gifts, home products, fashion, and packaging. These events will facilitate networking and solidify Hong Kong’s position as an international exhibition hub, bringing significant economic benefits to the city.”

Exhibition+ Model and Digital Innovation

The twin fairs continued with the “EXHIBITION+” online-offline integrated model. In addition to on-site purchasing, buyers could also use the “Click2Match” smart business matching platform and the “hktdc.com Sourcing” platform to find products and services. The Click2Match platform for both fairs will remain open until March 11, facilitating further business collaborations. For the first time, the twin fairs introduced a breakthrough self-service online pre-registration function, allowing buyers to save significant time on-site registration. With a pre-verified electronic入场证 (e-badge), they could enter the venue quickly, enjoying a more convenient sourcing experience. The majority of buyers expressed satisfaction with the overall experience of using the e-badge, including identity verification and entry arrangements.

Key Survey Findings

Other survey results showed that compared to 2023, nearly half (44.4%) of exhibitors believe that the FOB (Free on Board) export prices of their products will increase in 2024, while 70% (69.9%) believe that production or sourcing costs will also rise.
Respondents identified the following target markets as having ideal or very ideal growth prospects for jewelry products over the next two years: Middle East (70.6%), Australia and Pacific Islands (68.6%), India (65.3%), North America (59.2%), and the European Union (56.3%).
In terms of market potential, the new markets that most respondents are currently trying to develop include Mainland China (21.2%), North America (17.3%), Northern and Western Europe (16.2%), the European Union (15.5%), Japan (12.4%), Hong Kong, China (10.9%), and the Middle East (10.7%).
Regarding product trends, respondents identified fashion jewelry (59.5%), fine jewelry (41%), and designer jewelry (31.1%) as having the greatest growth potential this year. White K-gold (47.3%), yellow K-gold (44.5%), and rose K-gold (24%) are the most popular precious metal products for 2024. Diamonds (53.3%) are the most popular gemstone this year, followed by rubies (28.6%) and pearls (21.5%).

Exhibitors Report Strong Sales

Buyer purchasing sentiment was positive at the fair. Kwan Man-hang, Director of Hong Kong Global Jewelry Design Centre Limited, an exhibitor at the Hong Kong International Jewellery Show, said:

“We have been exhibiting since the inception of the Hong Kong International Jewellery Show, and our business has grown alongside the 40 editions of the fair. Today, our jewelry products are exported globally. At this fair, we met new buyers from Mainland China, the Philippines, and the Middle East. We expect our sales at this year’s fair to increase by 20% compared to last year.”

Rosaria Borriello, Manager of Italian exhibitor Borriello Massimo at the Hong Kong International Diamond, Gem & Pearl Show, said:

“We really like the Hong Kong fair; it’s an ideal platform for doing business and meeting clients from around the world. As always, our Mediterranean red coral continues to attract high interest from buyers. Clients from Mainland China, India, and the Philippines were again our most important buyers. This year, we also had several American buyers come to us. Overall, sales generated at the Hong Kong fair account for 20% of our company’s total business, demonstrating the significant importance of the fair for business expansion.”

Nezar J. Mukhtar, Managing Director of Jamla Jewelry from Saudi Arabia, said:

“The fair brings together many companies and industry professionals from around the world, making it the best sourcing platform. I am currently in talks with three exhibitors from Hong Kong and India to source loose diamonds of various sizes, colors, and shapes. I am also using the fair to find more new suppliers and expect to place orders worth at least US$10 million. This fair is truly an ideal platform for business expansion.”

Chanyut Khieonavavongsa, a gemologist (GIA) from Thailand’s Tassabee Gems, said:

“I have been in the jewelry industry for 40 years and frequently attend this jewelry fair. Compared to other jewelry fairs, I can find more attractive designs and more new suppliers here. I have already placed orders for 18K gold jewelry worth a total of US$100,000 with 4 to 5 suppliers from Hong Kong, South Korea, and Turkey, and I plan to purchase at least another US$100,000 worth of jewelry. I am very satisfied with the online pre-registration via the HKTDC Marketplace App. I could enter the exhibition directly upon arrival, saving queuing time. It’s very convenient.”

Upcoming Exhibitions

Following the successful conclusion of the twin fairs, the HKTDC will organize a series of exhibitions, including the Hong Kong International Lighting Fair (Spring Edition) and the new Smart Lighting Expo, both taking place from April 6 to 9.

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⏰ Published on: March 04, 2024