Up to A$210 million has been promised to the long-awaited Stage Two expansion of the Melbourne Convention and Exhibition Centre (MCEC), ensuring that the MCEC will remain Australia’s largest convention and exhibition space.
In light of the developments to the centre's competitor facility, ICC Sydney, due to open at the end of 2016, MCEC chief executive Peter King said the announcement was welcome news for the region’s business events sector.
“Melbourne has led the growth of the business events industry globally for the last decade and it’s wonderful to see government investing in this lucrative and important sector.
“$580 million of economic contribution is generated annually from MCEC’s activities and the expansion is estimated to generate an additional $175 million annually for the state.
“MCEC’s expansion will significantly expand the South Wharf precinct footprint to offer a range of flexible spaces to meet the changing needs of the business events industry, address global competition and ensure we retain our position as Australia’s number one business events destination.”
Melbourne Convention and Exhibition Trust Chairman Bob Annells said the new proposal would respond to the centre's global demand.
“The investment supports the work MCEC conducts with the Melbourne Convention Bureau to attract major business events to Victoria and aligns with the government’s Victorian Visitor Economy Review to support the growth and development of this sector.”
The centre’s expansion has been projected to attract a further 74,000 international visitors to Melbourne annually and is forecast to bring in A$167 million to the economy. The developments will tackle current space issues, which have resulted in the MCEC having turned away 20 per cent of business since 2012.
The MCEC currently attracts over 1.5 million visitors and over 1,000 events every year, including Asia Pacific's largest travel trade expo, Aime.
