ISRE 2.0 Launched to Help International Exhibition Organizers
The Commerce & Economic Development Bureau of Hong Kong has unveiled the Incentive Scheme for Recurrent Exhibitions (ISRE) 2.0. This initiative, outlined in the 2024 Policy Address, provides an additional $500 million in funding in addition to the initial $1.4 billion on ISRE that was created in 2023.
Increasing Support for the Exhibition Sector
ISRE 2.0 builds on the success of its ISRE, and, like it’s predecessor, focuses exclusively on venue rental subsidies. Private organisers hosting international exhibitions at designated locations can access the scheme. Furthermore, to qualify, an exhibition must attract at least 1,500 non-local exhibitors and buyers. Similarly, the maximum financial support per event is capped at $10 million.
Expanded Venue Options for Organisers
While ISRE 2.0 also only helps with venue rental subsidies, it does cover more locations than ISRE. The Central Harbourfront Event Space and sections of the West Kowloon Cultural District will be included alongside the Hong Kong Convention & Exhibition Centre and AsiaWorld-Expo. This expansion offers organisers greater flexibility and is expected to improve Hong Kong as a global exhibition destination.
When Will It Start?
The new scheme will launch officially on July 1 and is pending approval from the Legislative Council. On the same day, thee existing ISRE will discontinue. It’s important to note that organisers with exhibitions starting on or before June 30 must apply under the current scheme. The bureau will release further details on the applications,, and those interested can start preparing then.
If you think your business can benefit from ISRE 2.0, you can contact 3E Accounting for expert business consultancy.
