The Australian Business Events Association has released its International Business Events Forward Calendar 2024, which provides an analysis of bids won, lost, and the bid pipeline based on data provided by 16 leading convention bureaux of Australia.

This report was previously published by the Association of Australian Convention Bureaux (AACB) before unification of the industry associations in 2023.

 The data allows key market intelligence to be shared frequently with strategic partners and government stakeholders.

Melissa Brown, CEO of Australian Business Events Association said, the business events sector is unique in that it is the only pillar of the tourism sector that provides a vision of confirmed future business.

“The forward calendar outlines international business events attracted to Australia by convention bureaux across the country. This intelligence is used by industry, governments and their departments to maximise the benefits these events offer academia, trade, medicine, science, and technology,” said Brown.

The forward calendar details a strong and successful pipeline of business events that spans to 2031. Highlights include a forward estimate of the following:

• $760,101,236 in total delegate spend  – including $697,043,164 of domestic spending.
• 1,597,579 total delegates days
• 2,792 total business event days
• 30% of all future international conventions won have a trade or exhibition component
• 24% of all international business events are considered Professional, Scientific and Technical Services, which represents 93,587 delegates
• 23% of all international business events are considered Health Care and Social Assistance related, which represents 91,891 delegates

The top reasons provided for winning bids includes the bid team (34%), geographic preference (23%), and financial package (12%).

Amongst the wins, convention bureaux reported the loss of 399 total business events or $334,168,923 in delegating spending. This was due to geographic preference (29%), total cost (13%) and financial package (13%).

Brown said whilst the wins of the industry are significant and will contribute immensely to the Australian economy, the bids lost represent a huge opportunity for Australia.

“Australia is a great place to host events, however we sit within a hugely competitive global landscape.  This underscores the importance of Tourism’s Australia’s national bid fund for the future growth of our important industry.

“The business events sector offers an enormous opportunity for economic contribution, greater than we are already providing.

“Australia leads with demand from areas such as scientific meetings and health care, events that showcase expertise and provide opportunities for further research, education and collaboration that deliver meaningful benefits for Australians.

“This report is critical in evidencing the size, breadth, and scale of opportunities while outlining strategies for the sector to work hand-in-hand to ensure we win every bid possible,” said Brown.