Confidence levels continue to rise for domestic business events

business events

Confidence levels for business events planning across Australia continues to grow with 84 per cent of decision makers now planning events within the next six to 12 months, according to Tourism Australia’s latest research.

The figure is up 13 percent from February 2022 and marks the highest confidence levels of Australia’s domestic business events sector since the pandemic began.

The research shows a strong desire to return to face-to-face events and a reduced use of hybrid formats with 90 per cent of respondents stating they feel at ease with the idea of travelling intrastate and interstate for business purposes.

Retaining business onshore is also looking positive, with 95 per cent of corporates responsible for planning events offshore stating they are likely to relocate one or more of those events to Australia over the next 12-months.

Decision makers planning to hold events within the next 12-18 months continue to show most interest in state and national level conferences, followed by incentive events. Around half of businesses claim that building team morale and rewarding employees is a key motivation for such events.

The vast majority of businesses planning to hold domestic events in the future estimate that the number of events intended, the number of attendees per event and the allocated budget of their domestic events will be similar if not greater than pre-Covid levels.

Tourism Australia’s business events boss Robin Mack said it was pleasing to see there a positive shift in the attitudes of domestic corporate decision makers towards planning business events in Australia.

“The research also indicated our latest Event Here This Year campaign was a positive contributor to the strong sentiment,” he said.

“The campaign had 15.4 million impressions across three-months, with 96 per cent of corporate decision makers exposed to the campaign already taking positive steps towards planning a face-to-face business event in Australia.”

The research also showed that 78 per cent have had to either cancel or postpone at least one event between January and May.

The factors influencing event confidence over the next six to 12 months include restrictions on the number of people (35%), travel restrictions (31%) and location reputation concerns (29%).

In the exhibition sector, 84 per cent of businesses will exhibit or send staff to an exhibition in the next year and 93 per cent claim they will support the same number of shows or more in the next 12 months compared to before March 2020.