Business events are a major driver for Australia’s economy, and ICC Sydney is playing a key role in driving positive returns for the city and State, including an anticipated AU$5bn dollars in economic benefit to NSW over 25 years.
The recent Sydney International Boat Show – ICC Sydney’s largest public exhibition to date – shows Australia’s new premier exhibition, convention and entertainment venue is delivering positive business outcomes and helping to underscore Sydney’s reputation as one of the world’s most desirable event destinations.
Hosted over five days, Sydney International Boat Show returned to the heart of the city for its 50th anniversary and was taken to new heights, thanks to ICC Sydney’s new facilities.
The event fully activated all 32,600sqm of the Exhibition Centre, along with the 5,000sqm Event Deck and Cockle Bay Wharf to display 900 boats including the 42ft Boston Whaler within the halls and the 125ft Ghost II on the marina.
More than 63,000 visitors attended and the show, which facilitated $250m worth of business on site, which equates to nearly $3m of business transacted each hour that the event was open.
In fact, the Boating Industry of Australia CEO, Howard Glenn said it was the most successful show since the GFC.
“Moving back home to Darling Harbour and having the support of the best in class team at ICC Sydney helped us to deliver our best ever event, delivering one fifth of the State’s turnover for the entire boating recreational industry, equivalent to one tenth of the national industry’s turnover.”
A further $200m in trade is expected to take place throughout August as a direct result.
This is just one of the 400 events ICC Sydney has hosted to date, with hundreds more in the pipeline. And with these future events will come a wealth of broader benefits for the local economy.
For example, ICC Sydney is attracting lucrative business travellers, who spend up to six times more than their leisure counterparts. The hotel industry benefits too, with more domestic and international visitors descending on the city to attend events on ICC Sydney’s calendar.
This is being supported by new infrastructure and development, adding to the city’s appeal. Tourism Australia managing director, John O’Sullivan, says Sydney is embarking on the biggest hotel revolution in its history, with a $4bn pipeline of over 40 hotels and 8,000 hotel rooms to be added to the market.
From boating and commerce, to medicine and entertainment, ICC Sydney is helping attract major events, leaders, and visitors internationally.
With a successful first few months, documented in this very title, ICC Sydney is already using events to benefit the wider economy.