The business events industry comprises three market segments; meetings and conventions, exhibitions and incentives. The meetings and conventions form the largest component of the industry in terms of events, delegate numbers, expenditure and value add.
Research carried out on the value of business events estimated there were 484,000 association, corporate, government meetings/conventions, exhibitions and incentive events held annually. These events were attended by approximately 43.7 million delegates. The industry employs an estimated 229,000 delivering $11.1 billion in wages based on the average wage in the business events industry (source ABS).
The research estimates that business events generated $17.2 billion in direct value and supported Australia's GDP with a total economic contribution of $35.7 billion.
This equates to attendance at:
This data highlights the importance of the business events industry to the Australian economy.
For a copy of the report on this research, click here.