Business Events Sydney (BESydney) has exceeded its 2009/10 economic impact result, winning business in 2010/11 that will inject $186.5million into the New South Wales economy.
Australia’s leading convention bureau, charged with bidding and securing international business events for Sydney, has also reported increases in delegate numbers and estimated days to be spent in NSW compared to 2009/10 figures.
The 67 business events won by BESydney last financial year will attract an estimated 55,061 delegates as they take place. This is an increase of 28% on 2009/10 results. These delegates are expected to spend a total of 205,385 days in the State.
This expected increase in delegates should translate into great economic benefits for NSW as the 67 secured events take place, given that research shows a business traveller spends approximately five times more than a leisure traveller.
“These strong end-of-financial year results confirm once again that Sydney is Australia’s business events capital” says Lyn Lewis-Smith, Acting Chief Executive Officer and Chief Operating Officer of BESydney.
“The results also indicate that we are working hard to make Tourism NSW’s goal of doubling tourist receipts between 2010 and 2020 a reality.
“We are firmly focused on harnessing Sydney’s potential to maximise our year-on-year contribution. We host 40% of Australia’s business events activity, so we know as well as contributing to the State’s goals, Sydney’s results will weigh heavily on reaching the national 2020 target – doubling the receipts from $7.9 billion to $15.8 billion within the business events sector.
“The new Sydney International Convention and Exhibition Centre is due to be completed in 2015. So, we are also working to ensure this exciting new space is profiled in global markets and that a steady stream of business events is poised to experience the world-class facility from the day its doors open.
“Strong growth opportunities exist in the Asian market and we will continue to evolve our strategies to win this business for Sydney. Last financial year the Asian market delivered $33.1 million of incentive business for Sydney. We were the first Australian bureau to open an office in Asia, and since 2004 we have increased the number of business events secured for Sydney from six in 2004/5 to 22 last financial year. 54% of this business comes from China and this growth is set to continue exponentially,” says Lyn Lewis-Smith.
A key event from the Asian region is the upcoming 2012 Worldwide Chinese Life Conference. The event will see 200 leading CEOs and approximately 4000 representatives from predominately Asian finance and insurance companies visiting Sydney.
This will be the first time the international event has ever been held in an English speaking country and has been welcomed by the NSW Government for aiding its efforts to further develop the sector and position Sydney as a financial hub within the Asia-Pacific region.
Business Events Sydney’s Annual General Meeting will take place on 19 October 2011.