The “Travel and Tourism at a Turning Point: Principles for Transformative Growth” report shows the world’s business events sector is projected to grow at nine per cent compound annual growth rate (CAGR) between 2025 and 2030, outpacing the rest of the business travel segment.

According to Business Events Industry Aotearoa (BEIA), New Zealand should capitalise on this projected growth.

“The report’s findings align with New Zealand’s Pīata Mai, the national strategic direction for our business events sector that outlines sustainable growth opportunities,” says Lisa Hopkins, chief executive, BEIA.

“New Zealand needs to be ready to capture this growth; to stand out from international competition as an attractive business events destination.”

The report identifies key enablers for growth as infrastructure, finance, technology and innovation, people and skills, regulation, and public-private collaboration.

“New Zealand’s business events industry now has world-class infrastructure with new convention centres: Te Pae Christchurch and Tākina Wellington, and New Zealand International Convention Centre in Auckland opening early next year,” says Hopkins.

“The three new convention centres together will create 1400 new jobs, more than 300,000 room nights annually and direct spend in excess of NZ$150 million.

“Additionally, we are witnessing significant infrastructural investment in airports, multipurpose venues and hotel development, contributing to the overall experience a delegate can expect when they travel here.”

Hopkins says the value of business events to New Zealand extends well beyond visitor numbers.

“The World Economic Forum report highlights the value of face-to-face interaction,” she says.

“Business events bring together the very people who drive progress: scientists, innovators, policymakers and entrepreneurs.

“They create meaningful legacies for New Zealand.”

Photo at top: iStock/Rawpixel.