The Bahrain Exhibition & Convention Authority (Beca) achieved the best financial results since its inception last year and recorded profit for the third consecutive year.

This was despite the global economic recession which has affected the exhibition industry worldwide, Industry and Commerce Minister and Beca chairman Dr Hassan Fakhro said at a meeting of the authorities board.

'In addition to revenue obtained from leasing for exhibition and conferences, many improved management strategies were initiated to generate better financial returns including enhanced strategies to increase on-going rental income, review of past lease agreements and best utilisation of available assets,' he said.

During 2010, Beca concluded agreements for 114 bookings of which 83 included exhibitions, conferences and various meetings in addition to 31 miscellaneous functions.

In terms of exhibitor figures, more than 3,234 local, regional and international exhibitors participated in the major events hosted at the centre compared with 2,699 in 2009, achieving a 20 per cent increase.

In addition, the gross space rented achieved 2.3 million square metres, up by 26 per cent on the 2009 figure.

The total days of booking exhibitions and conferences increased to 612 days in 2010 compared to 608 days in 2009.

During the meeting, a presentation was made on the latest development of the Expo City.

The minister reiterated the importance of achieving developments relating to the much-needed expansion of Bahrain's flagship Meetings, Incentives, Conferences and Exhibitions (MICE) facility Expo City which will help promote the country's international reputation as a destination of choice.

A new company under the name of Bahrain Exhibitions and Conventions Company, was established and registered in August with a paid up capital of BD300,000 through a joint partnership consisting of Beca, Bahrain Mumtalakat Holding Company and the Logistics Company, representing the private sector to fulfil the requirement of the kingdom's long-term growth of the MICE industry.

The authority hosted Team Bahrain's Meeting 2010 held at the Bahrain International Exhibition and Convention Centre on December 1.

Other first-time events held in the centre included Beca's own Health and Wellness Expo, Jobs for Women Fair, Middle East Modified Championship (Sport Event), Made in My House Exhibition, Bahrain International Education Expo, Gulf Water and Power Forum, Bride's Dream Under One Roof Exhibition and Abayas Exhibition.

Other international and specialised exhibitions and conferences held in 2010 included Jewellery Arabia, organised by Arabian Exhibition Management which attracted a record number of 600 exhibitors from 31 countries as well as over 41,000 jewellery trade buyers and private collectors, the second Food and Hospitality Expo, organised by Beca, Gulf International Industry Fair, organised by Hilal Conferences and Exhibitions (HCE), the Autumn Fair, with 750 exhibitors from 27 countries which attracted 191,000 visitors, gulfBID and gulfINTERIORS organised by HCE and many more.-TradeArabia News Service