The Value of Business Events to Australia by BECA
The study highlights the importance of the business events industry to Australia, by estimating the economic contribution, value add and employment of the industry. The report was first published in 2015 reflecting the 2013-14 financial year and was updated in 2020 to reflect the 2018-19 financial year.
The research continues to demonstrate that business events are a major economic driver for the Australian economy.
The research commissioned by the Business Events Council of Australia was conducted by the global research firm EY. The original study was co-funded by the Australian Government, under the T-QUAL Grants Program and the Australian business events industry.
The 2013-14 report demonstrates that business events are a major economic driver for the Australian economy, but the current approach to valuing these benefits was focused on immediate tourism spending of delegates, event expenditure and venue utilisation. This focus on short term impacts masks the wider and more enduring benefits of business events associated with support for infrastructure development, business relationships, knowledge transfer and industry investment.
Based on general industry growth assumptions, the 2018-19 report demonstrates that the value of the business events industry has grown by 30% since FY14, directly contributing $35.7 billion to the Australian economy in FY19.