Tourism Australia’s specialist business events unit released new international research findings that bode well for incentive programs in Australia in the 2024 Business Events Consumer Demand Project (CDP), a study conducted annually to understand the perception of Australia as a business events destination.
Findings from the CDP revealed Australia remains a top destination choice amongst incentive and association event decision-makers, and the pipeline for international business events both in Australia and globally is positive.
Tourism Australia Executive General Manager of Commercial and Business Events Australia Robin Mack said the research shows Australia’s appeal as an international event destination remains high, with event decision-makers ranking Australia as the top destination on the consideration list for future events.
“According to the latest research, the outlook for international events in Australia is looking bright, with one in three decision-makers surveyed actively planning an event in Australia in the next three to 10 years,” Mack said in a press release. “This positive outlook is an opportunity for the Australian business events industry to capitalize on this strong awareness and drive conversion through strengthening business events decision-makers’ understanding of Australia’s unique offering.”
[Related: What Lies Ahead: SITE and IRF Release Results From 2024 Incentive Travel Index]
More Insights From the CDP
The CDP also details factors influencing decision-makers’ destination choices, such as budgets and sustainability, and ascertains an outlook for the international business events industry:
- Budget Increases: Research from the CDP shows almost two-thirds of event decision-makers (64% of incentive and 63% of association) are optimistic their budgets will increase in the coming years. “It’s positive to see spend for international business events is expected to increase, and with bigger budgets comes bigger events,” Mack said.
- Bigger Gatherings: According to CDP results, events are expected to grow in size in the years ahead. “Our research also shows upcoming business events globally are expected to have more attendees compared to the past five years,” Mack added.
- Sustainability Practices: Sustainability credentials and practices remain a key factor in destination choice, with two-thirds of those surveyed saying sustainability credentials play a significant role in their decision.
The research surveyed 160 associations (in North America, U.K. and Europe) and 499 corporate decision makers from the incentive sector (in North America, U.K., Greater China, Malaysia, Singapore, India, Indonesia, New Zealand and new for 2024, Japan and South Korea) between May and June 2024.
The 2024 Business Events CDP factsheet is available for download from the Business Events Australia website.
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