Decline in Baselworld watch fair attendances follows complaints from exhibitors
Biggest story from March’s Swiss industry show – long before Swatch quit – was what future it may have after 50 per cent drop in trade companies taking part
This story originally came out on June 1 in the print version of South China Morning Post’s Baselworld special report
The biggest story to come out of this year’s Baselworld – a trade fair of the international watch and jewellery industry held in March in the city of Basel, Switzerland – wasn’t about watches, but about the fair itself; more specifically, what its future might be – and whether it even has one.
Only 650 exhibitors showed up this year, a 50 per cent fall from the 1,300 who exhibited last year. A decade ago, the fair had boasted 2,087 exhibitors.
The dramatic decline occurred despite news that the watch industry is recovering.
A report by the Federation of the Swiss Watch Industry showed Swiss watch exports worldwide in 2017 at 19.92 billion Swiss francs (US$20 billion) – a 2.7 per cent increase from 2016.
[Baselworld] is a big part of our budget; it’s the only way to be able to present so many collections to so many people. But what people don’t like about Baselworld is the organisation used to be too arrogant about prices
Hong Kong was the biggest export market with 2.52 billion Swiss francs, a 6 per cent increase from 2016. It is still, however, a significant decrease from the 3.18 billion Swiss francs it recorded in 2015. China ranked third with 1.54 billion Swiss francs, an 18.8 per cent jump from 2016.
Baselworld, nevertheless, was cut short by two days and the space inside the venue, Messe Basel, was decreased, with watch brands taking up only the first two floors of Hall 1, and half of Hall 2 gone.
The grumblings of last year grew into full-throated complaints this year, ranging from the organisers’ inattentiveness to exhibitors’ needs, to the high hotel and food and beverage prices charged during fair dates.
“When you want to get a hotel, it’s very difficult and expensive,” says veteran fair attendee, Dr Jimmy Tang, group chairman and CEO of Prince Jewellery & Watch. He cites “sky-high prices, three to four times more than regular”.