The business events industry is in a stronger position compared to 12 months ago and Australia’s appeal as an events destination remains high, according to the latest research from Business Events Australia.
Tourism Australia’s business events boss Robin Mack said the research shows both association and incentive sectors are returning to normal, with more than 90 per cent of decision makers running events in the last year, a 32 per cent increase from 2022.
“It’s encouraging to see the international business events sector is in a stronger position compared to 12 months ago, with decision makers feeling increasingly confident in running events internationally,” he said.
“In the short term, global uncertainty and key financial factors are the biggest influences on decision makers’ confidence, but this hasn’t impacted future budgets, with 90 per cent of decision makers indicating they will retain or increase their budget compared to pre-COVID times.”
The research also indicates that Australia’s appeal as an event destination remains high.
“According to those decision makers surveyed, Australia is the number one incentive destination across 22 attributes, including excellent business facilities, value for money, and safety and security,” said Mack.
“For association decision makers, perceptions of Australia have improved in many areas, and intent to plan an event in Australia within the next two years has increased.
“With the outlook for the association sector looking positive, there is an opportunity for Australia to capitalise on this sentiment and drive conversion through increasing familiarity of Australia’s offering.”
Australian Indigenous experiences also have an increasing appeal for both association and incentive decision makers with 85 per cent recognising the appeal of an Indigenous experience in a program itinerary.
