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.