Business Events Sydney (BESydney) in collaboration with the University of Technology, Sydney (UTS), have released new research showing Asian incentive delegates are Sydney’s highest yielding delegate, outspending holiday visitors by an average of 6.5 times, and up to as much as 9.4 times.
The Asian incentive events in New South Wales: expenditure and retail impact, report provides a snapshot of the economic impact of Asian corporate incentive business events on Sydney and New South Wales (NSW). It measures the accurate value of ‘new money’ to destinations that host conferences and aims to foster credibility, transparency and accountability within the global business events industry.
Speaking at the Sydney media conference at IMEX Frankfurt (May 20, 2015), BESydney CEO Lyn Lewis-Smith says, “It’s our goal to establish robust reporting across the industry to ensure our long-term credibility, accountability and sustainability. As we increasingly engage outside our industry with government, business and industry in partnerships that deliver greater returns for our clients and our communities, the imperative for quality data will become even greater.”
The niche and lucrative business incentive events market makes up approximately 25 per cent of the business travel industry revenue. To date, Sydney has welcomed corporate incentive events worth more than $35 million to NSW in 2015.
Visit the Business Events Sydney website for full report details: bit.ly/1PGO02B