He cited a survey by PriceWaterHouseCoopers, which projected that the global book publishing industry would grow at about 2.8 per cent annually to reach US$129 billion (S$195.37 billion) by 2012.

He said, 'In view of the global financial and stock tsunami, some of these figures might have to be revised. But then, maybe during a crisis, people may have more time in hand, and they may want to spend more time reading.'

The third instalment of the annual BookFest@Singapore, organised by Popular Holdings which runs the Popular chain of bookstores, is one of the largest book fairs in South-east Asia. It drew 500,000 people last year.

Covering 100,000 sq ft at the Suntec City Convention Centre this year, it features more than 650 exhibitors and is expected to draw 450,000 visitors.

The exhibitors include publishers and book distributors from China, Taiwan, Hong Kong, Malaysia, Singapore, United Kingdom and the United States.

Apart from books, visitors will also find a wide range of stationery, multimedia and music.

Read the full story in Friday's edition of The Straits Times.