Delegates attending meetings, incentives, conventions and exhibitions in Australia are expected to spend over A$750 million (about US$550m) over the next decade, new analysis shows.
Data from the Association of Australian Convention Bureaux’s (AACB) International Business Events Forward Calendar July 2016 report, which outlines international business events attracted to Australia, estimates that total delegate spend will reach A$775,651,420 by September 2023.
Bids won
Over 190,000 industry professionals are expected to travel to Australia to attend 360 business events before September 2023, according to the research. Just under 100,000 domestic delegates are also expected to show.
Of the bids won by AACB’s members, one in four are in the health sector, attracting 97,000 delegates, and a fifth in the professional, scientific and technical services field.
Bids lost
“The analysis provides tangible evidence of how competitive the international business events market is,” says AACB CEO Andrew Hiebl (right). “There were 235 bids that Australia made for business events across the next decade which were unsuccessful.”
Just over a quarter of the bids lost for events up until September 2023 were also in the health sector.
Bid pipeline
AACB members have yet to hear the outcome of 157 bids made for international events.
A fifth of these events are in the health care sector, and 15 per cent in the professional, scientific and technical services field.
The Association of Australian Convention Bureaux brings together 16 of the country’s city and regional bureaux.
