The Federal Government has today confirmed a $2 million allocation to measure the impact and benefit of business events.
The project is being rolled out in two phases, including the addition of new questions to Tourism Research Australia’s National and International Visitor Surveys which are already in place and collecting data.
Secondly, the Government will work closely with the Business Events Council of Australia (BECA) to roll out “bespoke data collection points including venues, organisers, delegates and exhibitors” across the country.
Tourism Minister, Don Farrell, noted that business events are vital drivers of the wider economy and contribute around $36 billion annually in industry expenditure.
“They encourage high-yield travel, build networks, support the development of commercial concepts and expand business opportunities,” he said.
“The new business events data project is a critical part of the Government’s support for the ongoing recovery of Australia’s business events sector.
“Better data means better decisions, better decisions mean better events, and better events mean a bigger boost for Australia’s visitor economy.” Leo Jago, Chair of BECA, said the $2m allocation is the country’s largest ever single investment in business events research, and will help establish a long-term framework to measure the sector’s contribution.
He urged industry to provide data in a timely fashion.
AACB CEO, Andrew Hiebl, CAE stated, “This $2 million allocation is the single largest investment in business events research that we have seen and will establish a long-term framework to most accurately and consistently measure the business events industry’s contribution to the economy over the next decade.