BECA revenues jump 34pc in 2012
Manama, January 15, 2013
The Bahrain Exhibition and Convention Authority (BECA) has posted a total revenue of BD1.6 million ($4.2 million) in 2012, representing 34 per cent increase compared with 2011, a report said.
It achieved a big leap in revenue, number of events, visitors and participation of countries last year, according to the report published in our sister publication, the Gulf Daily News.
It is also expecting a surplus net cash from its operations equivalent to BD646,000, a 167 per cent increase compared with 2011.
This was revealed at the BECA regular board meeting held yesterday (January 14).
Industry and Commerce Minister and BECA chairman Dr Hassan Fakhro highlighted the remarkable growth in the authority's operational performance and positive financial results for 2012. He also forecasted results and expectations for 2013 based on the scheduled bookings at Bahrain Exhibition and Convention Centre (BIEC) for this year.
The minister said the continued support of the leadership and government had strengthened the exhibition industry and enhanced its contribution to the national economy and its position in the region.
The board addressed the efforts and plans to speed up the new Expo City Project, including follow-up on invitation of the private sector, banks and financial institutions for equity participation in this vital and strategic project.
The authority presented to the board a big leap in its financial performance as at closing of its preliminary fiscal year with total revenue of BD1.6 million representing a 34 per cent increase compared with 2011.
The board is confident that the steady growth of the exhibition and convention industry, which revived in 2012, will continue this year.
It also noted the various improvements and upgrade projects of the existing exhibition centre facilities and plans and programmes for its implementation in 2013.
During the meeting, the authority highlighted its strong operational performance which included a 116 per cent increase in the number of exhibitions and conferences with 82 events in 2012 compared with 38 events in 2011.
Total gross space of booked events increased by 19 per cent, with 1.9 million sq m in 2012 compared with 1.6 million sq m 2011.
The number of exhibitors of major events increased by 51 per cent, with 3,099 in 2012 compared with 2,047 in 2011.
The total days of booked events increased by 21 per cent, with 520 days in 2012 compared with 430 days in 2011.
In addition, 2012 recorded a significant 46 per cent increase in the number of visitors attending all events at the BIEC and a 39 per cent increase in the number of participating countries in the exhibitions.
The agenda for this year includes a long list of major events, exhibitions and conferences scheduled to be held, some of which will be for the first time, at the BIEC.
Major events for the first half of the year include the just concluded second Arabia Mechanical, Engineering and Plumbing (MEP), sixth Gulf International Industry Fair, 24th Autumn Fair, ninth Bahrain International Garden Show (BIGS), 18th Middle East Oils Show (MEOS), second Bahrain Green Technology Expo (tentative), second Education and Training International Exhibition, 21st Annual Traditional Festival, first Bahrain Trade Fair, fifth Food and Hospitality Expo, third Health and Wellness Expo, seventh GulfBID, third gulfINTERIORS, first Gulf Property Show, Bahrain-India Exhibition, National Examination Unit, and Energy and Water Conservation Expo. – TradeArabia News Service