The peak body for attracting business visitors to South Australia, the Adelaide Convention Bureau has released its 2012 Q3 results.
To date this year, 82 events have been successfully attracted to Adelaide and regional South Australia with a resulting economic benefit of almost $60 million to be injected into South Australia from nearly 27,000 business visitors headed our way as the events roll out in the coming years.
“This figure is pleasing based on market conditions and available resources” said Adelaide Convention Bureau CEO Damien Kitto. “In these tight economic times and with reduced business development resources, we are pleased to report that not only do we return one of the highest Returns on Investment to our stakeholders but we continue to ‘punch above our weight’ based on the national snapshot” he said.
The Riverbank development and the expansion of the Adelaide Convention Centre continues to be of interest to national and international event buyers and business event trade media which ensures South Australia is more often than not ‘in the mix’ when invitations to bid are issued by conference organisers.
“Where we are falling down in the bids that we don’t win is primarily twofold” said Mr Kitto. “Firstly we are finding that the economic climate is making it tough to attract national events from the eastern seaboard as organisers worry about numbers dropping off. This is similar to the story we hear from the traditional source markets of Europe and North America where events often elect to stay close to home.”
Mr Kitto also advised however that the playing field is now highly competitive with available resources provided by destinations to assist with attracting the high yielding tourism genre to their locations being increased exponentially. “If South Australia is unsuccessful in a bid submission the second reason we miss out is due to a more attractive offer being presented by a rival bidder” he said.
Whilst these bid wins will bring money into the state over the coming years, the culmination of work done in the past years will see some $50 million headed into the state this final calendar year quarter from 15,500 visitors attending over 30 business events. This figure will take the total economic benefit from business events this year to $175m although value of the legacies in terms of putting Adelaide on the map, the business opportunities the local business delegates and organisations reap by hosting the event are immeasurable.
Business event visitors
Business event visitors spend on average $632 per day (as opposed to $170 for a leisure tourist), and as such the benefits of these visitors heading to town will also positively affect restaurants, taxis, hotels and retail outlets with figures showing over 50% of business visitors to Adelaide visit Rundle Mall and the Adelaide Central Market during their stay.