Sydney conventions to bring in US$100m

The events are worth an estimated US$100 million to the economy of New South Wales and include eight conferences of 1,000 delegates or more. The largest event this year is the prestigious Sibos finance forum for 4,000 delegates in October, generating an estimated US$30 million for the local economy. Sibos is the world's premier financial services event, bringing top firms and leading figures to its conference and exhibition. Other large-scale events include the World Congress of Occupational Therapists in July, expected to attract 3500 delegates and generate US$13 million, and the International Congress on Obesity in September, drawing 3,000 delegates and worth US$9million. SCVB managing director Jon Hutchison said that the bureau was continuing to pursue its traditional targets, large congresses and conferences, but it was also placing an increasing emphasis on small and medium-sized events. "Small and medium events will provide a lot of opportunities for Sydney in the future, particularly as we respond to shortening lead times and work on filling spaces between larger events," Hutchison said. "New assets like the Hilton Sydney - Australia's first true conference hotel - will play an important part in securing more mid-sized events." Hutchison said the SCVB had delivered excellent results in the first half of the 2005/06 financial year, winning 27 bids for events scheduled up to 2011. They are worth a combined US210 million and include the 2008 World Youth Day which will bring 200,000 young people to Sydney and inject an estimated $147 milllion into the economy. Other notable wins in the first half include the 2012 World Congress for Psychotherapy (4,000 delegates, US$13.65 million), the 2009 Meeting of the International Bone and Mineral Society (2,000 delegates, US$7.2 million) and the 2008 International Conference on Electronic Materials IUMRS-ICEM (1,500 delegates, US$5.1 million). Hutchision said the current financial year was likely to continue strongly, with SCVB bids worth US$31.3 million still pending.