The Business Events industry is the highest yielding sector of the tourism industry. The key benefits of Business Events (conferences, incentive travel, expos, meetings, conventions, exhibitions) are far reaching.
Convention Yield
- International convention delegates spend (on average) five to six times that of the international leisure tourist.
- 27% of international delegates also bring a partner.
Convention Delegate Dispersal
- 44% of all international convention delegates participate in pre or post-touring to other parts of regional Victoria and Australia.
- 71% of international convention delegates indicate that they will come back to Australia for a holiday within the next five years after the convention has been held.
Economic Impact to Victoria
- Business Events are directly responsible for more than 22,000 jobs in Victoria.
- Business Events generate $1.2 billion annually for the Victorian economy.
- More than 192,000 room nights were secured by MCVB in the last financial year (2009/10).
- In 2009/10, MCVB’s activities attracted in excess of 71,000 delegates and their partners and families to Victoria, injecting AUD$269 million into the State economy.
Enhancing Melbourne's Profile
- The Business Events secured by MCVB cement Melbourne’s claim that it truly is the event capital of Australia – home to sporting events, cultural events and, of course, Business Events. The number of medical and scientific meetings held in the city reinforces the fact that Melbourne’s University research institutions are the finest in the country and deliver world’s best practice.
- Business Events promote Victorian expertise and innovation to the world and attract world leaders and investment decision makers who would otherwise not come to Melbourne.
- Business Events provide world’s best educational opportunities for young Victorian professionals and build professional business networks between Victoria and international companies and associations.