Australia’s International Business Events SectorThe Economic and Strategic Value PropositionConference on the Value of Meetings, JMIC 2015
The Value of Business Events to Australia
Over 37 million people attended more than 412,000 business events across Australia in 2013 – 2014.
These business events directly generated
$28 billionIN DIRECT EXPENDITURE
$13.5 billionIN DIRECT VALUE ADDED
179,357DIRECT JOBS
$23.1 billionTOTAL ECONOMIC CONTRIBUTION (GDP)
The Hon Julie Bishop MP
Minister for Foreign Affairs
Department of Foreign Affairs and Trade
Australia’s economic diplomacy agenda is based on four key pillars:
1. promoting trade
2. encouraging growth
3. attracting investment
4. supporting Australian business.
www.dfat.gov.au
The Hon Andrew Robb AO MP
Minister for Trade and Investment
Department of Foreign Affairs and Trade
Trade priority areas 2014-15:
• Food and Agribusiness
• Advanced Manufacturing
• Infrastructure
• Resources and Energy
• Health
• Services
www.austrade.gov.au
Inward investment priority sectors:• Agribusiness and food• Major infrastructure• Tourism infrastructure• Resources and energy• Advanced manufacturing, services
and technology
The Hon Ian Macfarlane MP
Minister for Industry and Science
Department of Industry and Science
Industry Innovation and Competitiveness Agenda
Four overarching ambitions:
1. A lower cost, business friendly environment
2. A more skilled labour workforce
3. Better economic infrastructure
4. Industry policy that fosters innovation and entrepreneurship.
www.industry.gov.au
“Association of Australian Convention Bureaux is the peak business events network driving
economic prosperity for Australia.”
15 city and regional Convention Bureaux responsible for:
• Destination marketing
• Business development
Staff: 180 FTE
Members: 1,600 members
Funding 2013/14
• 60% from State/Territory Government
• 12% from Local Government
• 10% private sector
• 17% marketing and in-kind
• Less than 1% from Federal Government (eg. EMDG)
Goals:
1. To ensure that the business events industry is understood and recognised as a key sector of the visitor economy and a major contributor to the broader economic prosperity of Australia.
2. To ensure that positive policy and funding decisions are made by governments and their agencies to support economic growth through the business events sector.
3. To drive knowledge transfer and the professional development of AACB member staff.
Australia’s International Business Events Sector:
The Economic & Strategic Value Proposition
Direct Economic Value Policy Alignment Opportunities and Imperatives
Business Events:
Delivering Economic Prosperity for Australia
Economic Action Strategy
1. Continued Support for International Marketing
2. Promote Australia’s Comparative Advantage
3. Maximise Opportunities for the Nation
4. Realise Return on Investment
Attracting Business Events to Australia: Role of Government Agencies
Bidding for an Event
• Support of Federal Ministers & Trade Commissioners
Marketing an Event
• Promotion of Australia as an International BE destination
• On-shore assistance from Austrade
• Export Market Development Grants
Leveraging an Event
• Business Matching programs
• Maximise trade and investment, business and skilled migration opportunities
• Maximise delegate attendance and regional dispersal
• Develop case studies on event legacies
AACB MARKET INTELLIGENCE PROJECTThe Forward Calendar
Measure Results as at 1 October 2014
Business Events 718
Business Events with Exhibitions 222 (31%)
Event Days 1,124
National Delegates 239,711 (933, 632 delegate days)
International Delegates 131,158 (618, 503 delegate days)
Total Delegate Days 1, 552, 135
188; 26%
98; 14%
74; 10%72; 10%
50; 7%
32; 4%
204; 28%
Forward Calendar by Industry(From 1 October 2014)
Health / Pharmaceutical / Med-ical Sciences / Social WorkScience / Technology / IT / Telecommunications / TechnicalGovt / Education / Training / Safety / SecurityConstruction / Engineering / Real Estate / Manufacturing / Archi-tecture / DesignArts / Entertainment / Sport / Lifestyle / CultureFinance / Banking / Investment / InsuranceRemaining/ Other
AACB MARKET INTELLIGENCE PROJECTThe Pipeline
Measure Results as at 1 October 2014
Business Events 431
Business Events with Exhibitions 136 (32%)
Event Days 931
National Delegates 137, 272 (585, 888 delegate days)
International Delegates 71, 062 (386, 666 delegate days)
Total Delegate Days 972, 554
“Broadly, we find that Australia’s innovation
system is a mid-range performer among
Organisation for Economic Co-operation and
Development (OECD) countries. The evidence
suggests that our innovation performance is
lagging, potentially leaving us less resilient to
future global shocks.”
“If the goal of traditional diplomacy is peace, then the goal of economic diplomacy is prosperity.”- Julie Bishop, Address to the Sydney Institute, Sydney 2014.