Approximately a quarter of conference bids lost by Australasian CVBs are due to financial incentives offered by competitors, according to research from the Australasian Association of Convention Bureaux (AACB).
The association’s research on International Business Events cites other reasons for bids failing being the high cost of holding an event Down Under, including airfares, visas, accommodation and event delivery.
With the federal election approaching, the AACB has issued a call to Australia’s major political parties to support the industry with policies that improve the country’s competitiveness and drive growth.
The association says addressing the following priorities will help attract more business events to Australia and allow the economy to take advantage of the many benefits the industry brings.
- Expand Tourism Australia’s bid fund programme with additional new investment to AUD$10m (US$7m) per year.
- Visa reform – reduce the cost and complexity of visitor visas.
- Invest in more robust business events metrics.
The AACB also reports developing a new data collection system which allows key market intelligence to be shared frequently with its strategic partners and government stakeholders.
The AACB points out that business events are unique in that they are the only tourism sector that provides a vision of confirmed future business and says its Forward Calendar outlines international business events attracted to Australia by convention bureaux across the country.
“This intelligence can be used by governments and their departments to maximise the beyond tourism benefits that these events offer,” the association says, giving the following examples:
- Attract global talent
- Transfer knowledge
- Boost productivity
- Nurture research collaboration
- Foster innovation
- Encourage foreign investment
- Stimulate trade
- Promote cultural exchange
- Deliver community benefits