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

1 hour ago

Could China’s short drama boom create lucrative IP?

Short dramas are racking up hundreds of millions of views on China's video platforms, but producers are grappling with how to sustainably monetise the format.

3 hours ago

Dr Oetker picks Adam & Eve/DDB to lead global ...

BBDO, the incumbent, will continue to handle Germany.

2 days ago

Converse opens sustainability-minded retail space ...

An experimental retail location, Renew Labs Fitzroy, showcases the footwear brand's creativity, co-creation, and "inclusive ideation towards a more sustainable future".

2 days ago

This film about a dancer will make your heart soar

Don't miss 'The dancer', from BNZ and Colenso BBDO, a gorgeous film for anyone who's ever felt isolated and then found their tribe.