Business events bounce back strong this year

Tourism Australia research shows the business events industry has had a great 12 months.

The latest research undertaken by Tourism Australia’s specialist business events unit shows the business events industry is in a stronger position compared to 12 months ago and Australia’s appeal as an events destination remains high.

The 2023 Business Events Consumer Demand Project (CDP) is conducted annually to understand the factors influencing association and incentive decision makers when choosing a destination for events.

The international research also outlines how Australia is perceived as a business events destination, and the impact the pandemic has had on the decision-making process.

Tourism Australia events EGM, Robin Mack, said events were up 32 per cent from last year..

“It’s encouraging to see the international business events sector is in a stronger position compared to 12 months ago, with decision makers feeling increasingly confident in running events internationally,” Mr Mack said.

“In the short term, global uncertainty and key financial factors are the biggest influences on decision makers’ confidence, but this hasn’t impacted future budgets, with 90 per cent of decision makers indicating they will retain or increase their budget compared to pre-COVID times.”

The research also indicates that Australia’s appeal as an event destination remains high providing opportunities for Australian industry.

“According to those decision makers surveyed, Australia is the number one incentive destination across 22 attributes, including excellent business facilities, value for money, and safety and security,” Mr Mack said.

“There is an opportunity for Australia to capitalise on this sentiment and drive conversion through increasing familiarity of Australia’s offering.”

The research surveyed 160 associations in North America, UK and Europe and 402 corporate decision makers from the incentive sector in 10 of Australia’s key markets.

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