Business Events Adelaide (BEA) has dusted down the model it uses to calculate how much business event delegates spend in the city – and discovered the amount has doubled from its previously calculations.
The model was reviewed by the South Australian Centre for Economic Studies, at the University of Adelaide, with new figures indicating that interstate and overseas delegates spend $1,165 a day whilst in Adelaide for a business event.
Until recently the figure quoted was $632.
BEA chair Ian Horne said: “Our valuation of business events was groundbreaking when it was first devised but time - and Adelaide - has moved on. There has long been a concern that the economic model has not kept pace with an increase in delegate spend, driven notably by some high-quality additions to Adelaide’s hotel room supply that has increased both demand and the average daily room rate. We feel confident that this update reflects the true impact of a business event to our state.”
Meanwhile the convention bureau has announced that business events secured to South Australia in the last financial year reached an all-time high. At the group's Annual General Meeting, Horne revealed that 174 future business events had been secured, worth a record $336m.
He said: “Attracting 174 business events and more than 60,000 delegates to Adelaide – filling city hotels along the way – boosts the State economy and provides an enduring economic tail of meaningful connections and commercial opportunity.”
Minister for Tourism, Zoe Bettison, said: “The State Government recognises the value of Business Events, committing $14m over four years in the last State budget to boosting the Business Events Fund and increase visitation in winter months Business Events like conferences and conventions are the bread and butter of our visitor economy, filling our hotels throughout the week with business delegates spending significantly more per person than leisure visitors".
Business Events Adelaide CEO Damien Kitto said: “Our 2023-24 results are testament to the skill, commitment and hard work of the business event sector, a real ‘Team Adelaide’ effort. Adelaide is building a strong reputation as a destination of choice. With the investment in infrastructure – both redeveloped and new hotels, products and experiences – and a strong economic narrative in a range of key industry sectors, Adelaide now offers an enviable blend of big city capability with a boutique, compact feel for business event organisers both domestically and overseas.”
Written By
James Lancaster
AMI editor James
Lancaster is a familiar face in the meetings industry and international
association community. Since joining AMI in 2010, he has gained a reputation
for asking difficult questions and getting lost in convention centres. Proofer, podcaster, and panellist - in his spare time, James likes to walk,
read, listen to music, and drink beer.
