Staff Writer
Aug 22, 2018

Economic boost from business events in Melbourne rises 25%

The Melbourne Convention Bureau reported what it called a record-breaking achievement for the 2017/2018 financial year.

Melbourne's Yarra River
Melbourne's Yarra River

The Melbourne Convention Bureau has achieved a 25% increase in economic contribution from secured business events for the 2017/2018 financial year compared to the previous year. The economic impact amounted to A$396 million (US$291.34 million) from a total of 176 events secured and over 79,000 new visitors anticipated, as well as 4,739 jobs created.

Several notable events secured by the bureau include the Global Public Transport Summit 2021, World Ophthalmology Congress 2022, VidCon Australia 2018 and 2019, and General Assembly and Congress of the International Union of Crystallography 2023.

These events collectively contributed A$155 million (US$114.04 million) to the economy of the Victoria state. Conferences in the health and medical sector alone accounted for 37% of conferences secured in the past financial year.

Meanwhile, the bureau secured 134 events in corporate meetings and incentive business, worth over A$82 million (US$60.30 million) with over 25,500 delegates to the city and the region. The Cathay Life Incentive tour was the highlight, with over 2,300 visitors and an A$10 million (US$7.35 million) boost to the local economy.

Source:
CEI

Related Articles

Just Published

21 hours ago

Mindshare adds dedicated China leadership

EXCLUSIVE: APAC CEO Amrita Randhawa has relinquished her China responsibilities to two new leaders, Benjamin Condit and Linda Lin.

21 hours ago

Pinterest unveils new tools and insights for marketers

Major takeaways from the platform’s first global advertiser summit.

22 hours ago

Crash Course: How to develop a content strategy

You know content should be a key part of your overall brand strategy, but where do you start? This course explains the key steps you should take to ensure an effective content journey.

22 hours ago

The unlimited potential of live storytelling in ...

Brands like Standard Chartered, Uber Eats and Mastercard achieve impact by marrying human emotions with the unpredictability and excitement of live sports.