Since the launch of the 2020 Tourism Industry Potential in November 2010, the Business Events Council of Australia has worked with Tourism Australia to set out what the 2020 Potential would look like for our sector.
Tourism Research Australia has estimated business events delegates’ expenditure to be worth $7.9 billion to the Australian economy in 2009 and $8.5 billion in 2010. These figures are based on the National Visitors and International Visitors Surveys data.
Using these figures as a baseline, Tourism Australia and BECA have agreed on a BE Industry Potential of $16 billion by 2020 which represents a doubling of the 2009 TRA figure. It also reflects the similar Tourism target of doubling 2009 tourism expenditure by 2020.
The 2020 Potential vision for the business events sector provides a unified goal that the industry and government can rally behind, and work towards making the Australian business events sector a competitive, flourishing, world leading industry.
BECA welcomes the setting of business events goals for Australia, as part of the 2020 Tourism Industry Potential, and looks forward to working with Tourism Australia to meet and hopefully exceed this target.
Another important step has been the development of the business events value triangle in collaboration with the Business Events Australia team to illustrate the various measurements of business events which make up the total sector’s value.
The 2020 target relates to the tip of the iceberg in the overall value of BE to the Australian economy. For more details on the 2020 BE Potential click here.