Melbourne reports record-breaking financial results

Australasia News
Melbourne reports record-breaking financial results

The Melbourne Convention Bureau has achieved record financial results, with business events drawing in AUD$507m for the 2018/19 year.

Figures show business events have become the highest yielding sector in the Australian state of Victoria’s visitor economy. They saw a 28% increase in economic contribution compared to the previous year.

This money came from 299 events, which are estimated to have brought in over 136,000 new visitors to Victoria, and over 226,000 room nights.

The record-breaking year can be attributed to years of work resulting in several significant wins, including he 2023 Rotary International Conference, the most valuable conference ever won for the state.

This event is expected to attract 20,000 Rotary members from over 200 countries and regions worldwide, injecting over $110 million into the Victorian economy.

Other notable conferences include The International Convention of Jehovah’s Witnesses 2019, International Congress of Genetics 2023, 20th International Union of Basic and Clinical Pharmacology, and the World Congress of Philosophy 2023.

MCB Acting CEO Julia Swanson said: “These outstanding results are a testament of MCB’s efforts and ‘Team Melbourne’ approach.  Thank you to the Victorian Government, Melbourne Convention and Exhibition Centre, the City of Melbourne and our partners, for supporting.

“We continue to drive Victoria’s global standing as a premier destination for business events, and continuing Melbourne’s reign as Australia’s business events capital.”

Stuart Wood is a news reporter across the Mash Media editorial portfolio. He writes for CMW alongside sister publications Conference News, Exhibition News, Access All Areas and Exhibition World.