Fresh analysis of the business events industry has found delegates attending international meetings, incentives, conventions and exhibitions in Australia will spend more than $750 million across the next decade.
However, the analysis, which forms part of the industry’s forward calendar that has just been released by the Association of Australian Convention Bureaux (AACB), also shows there is still scope for growth.
“More than 360 international business events will be held through until September 2023, according to the AACB Forward Calendar,” said the Association’s Chief Executive Officer, Andrew Hiebl.
“More than 190,000 global experts, thought leaders and influencers will travel from overseas to attend these business events, with total delegate expenditure expected to top $750 million.
“The analysis found one in four business events attracted to Australia by the AACB’s members are in the health sector, while one in five business events attracted to Australia are in the professional, scientific and technical services sector.
“The analysis provides tangible evidence of how competitive the international business events market is – there were 235 bids that Australia made for business events across the next decade which were unsuccessful.
“International business events are an integral part of the visitor economy and play a vital role in lifting Australia’s knowledge base – they are platforms for innovation, ideas and new technology.”