New research demonstrates strong comeback for Australia’s business events industry

The latest research undertaken by Tourism Australia’s specialist business events unit shows the business events industry is in a stronger position compared to 12 months ago. The 2023 Business Events Consumer Demand Project (CDP) is conducted annually to understand the factors influencing association and incentive decision makers when choosing a destination for events. The international research also outlines how Australia is perceived as a business events destination, and the impact the pandemic has had on the decision-making process. Tourism Australia executive general manager of commercial and business events Australia, Robin Mack, said the research shows both association and incentive sectors are returning to normal, with more than 90% of decision makers running events in the last year, a 32% increase from 2022. Mack said: “In the short term, global uncertainty and key financial factors are the biggest influences on decision makers’ confidence, but this hasn’t impacted future budgets, with 90% of decision makers indicating they will retain or increase their budget compared to pre-Covid times.” “According to those decision makers surveyed, Australia is the number one incentive destination across 22 attributes, including excellent business facilities, value for money, and safety and security,” Mack added. Intent to plan an event in Australia within the next two years has increased, according to the research. “There is an opportunity for Australia to capitalise on this sentiment and drive conversion through increasing familiarity of Australia’s offering,” Mack said. Association decision makers are drawn to incorporating an Indigenous-guided experience or a traditional Welcome to Country Indigenous ceremony, while 85% recognise the appeal of an Indigenous experience in a program itinerary. “This outlook for the Australian business events industry is positive and echoes the feedback we’re hearing from industry. It is also evidenced through our Business Events Bid Fund Programme, which has seen an increase in applications and event conversions across Australia,” Mack said. The research surveyed 160 associations (in North America, UK and Europe) and 402 corporate decision makers from the incentive sector (in ten of Australia’s key markets) between May and June 2023. The 2023 Business Events CDP factsheet is available for download from the Business Events Australia website.