Since January 2018, there has been an 8% increase in the number of international business events secured for the future by the Association of Australian Convention Bureaux (AACB) members, according to new research.
The industry analysis from the latest International Business Events Forward Calendar, produced by the AACB, reveals also that convention bureaux are attracting a larger number of highly-engaged international business events to Australia, providing more opportunities to Australian small businesses, on top of those traditionally seen in tourism.
“We’re expecting more than a quarter of a million international delegates to attend these business events. To put that number into perspective, they would fill more than 530 Qantas A380s,” said the Chief Executive Officer of the AACB, Andrew Hiebl.
“Further, these business events will exceed AUD$1bn in direct delegate spend, surpassing previous forward projections.”
Minister for Trade, Tourism and Investment Simon Birmingham said of the results: “Business events inject millions into the economy and also support local businesses, create more jobs and ultimately enhance Australia as a tourist destination.
“Several of these events are supported by Tourism Australia’s recently launched Business Events Bid Fund Program, which is helping to grow the business events industry in Australia.”
“With half of the confirmed international conventions including a trade or exhibition component, Australian businesses are getting a chance to showcase their products to an international audience without having to travel around the world to do so,” Hiebl added.
“Business events not only stimulate trade for those who would otherwise be unable to access these buyers, but they also promote innovation and the knowledge economy, and raise the profile of these Australian small businesses on the global stage.
“This outcome has been driven by the strength of Australia’s industry leaders who lead these bids and financial support put forward by the public and private sector – overlaid by the fact that Australia is a safe and highly desirable destination to hold an international event.
“While these latest results are encouraging, the global market for business events is still highly competitive,” Mr Hiebl said.