Canton Fair Attendance Up Slightly, Trade Volume Down
June 10, 2012
Billed as the world’s largest trade fair, the Canton Fair held biannually in Guangzhou China, closed its doors in early May with numbers that were only slightly up.
Difficult financial and job market conditions in Europe and the United States impacted the show, though less than what was expected, according to organizers.
There were approximately 210,000 buyers from 213 countries, up 0.23 percent and 1.23 percent from the 110th and 109th sessions in 2011, respectively.
Total value of export deals concluded at the Fair also fell to 2.3 percent year-on-year to US$36.03 billion, down 4.8 percent from last year's autumn session.
Trade volume of the U.S. and Europe was down steeply, 8.1 percent and 5.6 percent, respectively.
On the other hand, the number of export deals concluded with companies based in emerging markets, such as India, Brazil and Russia, saw a 4-percent increase.
The volume of trade with African countries also rose sharply to 13.5 percent.
Attendees gave the fair overall positive reviews.
"This is my first time to be in the Canton Fair," said Kristrian Holmqvist, a buyer from a trading company in Finland.
She added, “It saved me a lot of time from going to many places to search for new suppliers. For the financial crisis around the world, it's hard to say that it has specific effect on my business. But the Canton Fair does provide better ideas on doing trade business and make us to be more competitive."
Hassan El Bizri from Brazil said, "I think the world economy is experiencing a recession, but it is a good time for us to develop.”
The next installment of the Canton Fair is in October.
Partner Voices
MGM Resorts is committed to fostering an inclusive and diverse culture, not just among employees and guests but also within its supply chain. The company prioritizes procuring goods and services from businesses owned by minorities, women, veterans, people with disabilities, LGBTQ individuals and those facing economic disadvantages. This commitment is integral to MGM Resorts' global procurement strategy.
Through its voluntary supplier diversity program, MGM Resorts actively identifies and connects certified diverse-owned suppliers to opportunities within its supply chain. The company is on track to spend at least 15% of its biddable procurement with diverse-owned businesses by 2025, demonstrating that supplier diversity is not only a social responsibility but also a strategic business imperative.
Supplier diversity isn’t just the right thing to do – it’s good for business. A diverse supply chain allows access to a broader range of perspectives and experience, helping to drive innovation, entrepreneurship and resilience, while strengthening communities. At MGM Resorts, engaging diverse suppliers ensures best-in-class experiences for guests and clients. Supplier diversity ensures a more resilient supply chain while supporting economic development in the communities in which it operates.
The impact of MGM Resorts' supplier diversity initiatives is significant. In 2023, these efforts supported over 3,500 jobs across more than 30 states, contributed over $214 million in income for diverse-owned businesses and generated more than $62 million in tax revenue. The story extends beyond the numbers – it reflects the tangible benefits brought to small and diverse-owned businesses, fostering economic empowerment in their communities.
MGM Resorts also supports the development and business skills of diverse-owned businesses through investment, mentorship and education. Through the MGM Resorts Supplier Diversity Mentorship Program, the company identifies, mentors and develops diverse-owned businesses to fill its future pipeline, while providing businesses with tools and resources to empower and uplift. Since 2017, the program has successfully graduated 105 diverse-owned businesses and is on track to achieve its goal of 150 graduates by 2025.
MGM Resorts’ commitment to supplier diversity not only enhances its business operations but also plays a crucial role in uplifting communities and fostering economic development. This approach reinforces the idea that diversity is a powerful driver of innovation and resilience, benefiting both the company and the wider community.
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