The Adelaide Convention Bureau has delivered results for the 2011/2012 financial year that highlight a global trend – Business Tourism remains a vital component to a destination’s annual economic bottom line. To this end and in these challenging times when global and national competition to secure events is at an all time high, investment into the sector by stakeholders is increasing.
In Adelaide, the Government’s massive investment into our Convention Centre, the Riverbank precinct and to a lesser degree (with respect to relevance to the Business Tourism genre) the Adelaide Oval, SAHMRI and Rundle Mall is unprecedented. In addition, with new hotels about to be built in the city and upgrades to existing properties underway, Adelaide is looking firmly to the future in terms of infrastructure.
The Adelaide Convention Bureau’s 2011/2012 results are testament to its ongoing strategy to develop and/or strengthen relationships with key industry partners, launch a four nation alliance with the express purpose of securing lucrative science based events and maintain a healthy Conventions Adelaide Ambassador programme. These strategies show yet again, the Adelaide Convention Bureau is punching above its weight in terms of available resources in this exigent economy vs results.
The Adelaide Convention Bureau end of financial year results reveal;
- The number of bids submitted is up 23% on target
- The number of events secured is up 29% on target
- The number of International events won is 30% up on target
- Events won will return $85m in economic benefit
- The bid split is 80% national vs 20% international.
- The biggest challenge with respect to securing events remains the ability to present an attractive and well funded bid to convention organisers.
- Despite the number of events being secured by the Bureau, the economic benefit of the events is down 15% on target.
- Essentially whilst events are being won, the delegate numbers are smaller – testament to the national and global economy.
“The team at the Convention Bureau have worked tirelessly on a record number of submissions and wins this last financial year and must be congratulated on the passion and dedication they show toward attracting these events to our city” said Mr Kitto. “In tough times both economically and from a resources perspective, the team has delivered an incredible result” he said.
Despite reduced resources, the Adelaide Convention Bureau still provides one of the highest returns on investment in Australia with a $85m resulting from an input of $2m (42:1 ROI)
“We have ended a challenging year with a positive result on so many levels “ said Mr Kitto. “In addition to what has been won so far, there is around $45m in economic benefit to be decided in the next three months from bids submitted in pre June 30 which will truly boost our calendar year result”.