New bid fund to help reverse the decline in international bids won
The latest edition of the AACB’s Forward Calendar of International Business Events showed a decline in the number of international business events secured for Australia into the future to 361, down from 396 six months ago.
“A total of 304 international business events were lost, translating to $1 billion in delegate expenditure that will now be spent in other countries,” said Andrew Hiebl, CEO of the AACB.
“The timing of the recent bid fund announcement is important. Only a decade ago, Australia was consistently among the top 10 most popular countries to host major international association conventions in the International Congress and Convention Association’s country rankings. In 2016, our ranking dropped to 16th in the world.
“We are confident that the decline in our international positioning can be reversed with this increased investment from the Australian Government, helping Australia secure more international business events. There are currently 236 international business events in the pipeline, with potentially half a billion dollars in expenditure to be won.”
On a brighter side, the number of delegates and associated total delegate spend expected from business secured has seen an increase. The top three industries attracted by the number of events include Health Care and Social Assistance (33.5 per cent), Professional, Scientific and Social Assistance (18.3 per cent), and Financial and Insurance Services (6.9 per cent).