Pulling in events business to the combined value of $373 million during the 2005/06 financial year, Sydney Convention and Visitors Bureau (SCVB) recorded its best annual result to date – and is confident that 2006/07 will be another stellar year for drawing conventions and events business to the city.
According to results announced by the chairman of SCVB, Maurice Newman at the bureau’s annual general meeting held late last year, 42 new events were secured for Sydney during the year, representing an additional 250,000 international delegates.
This result represented a 150 per cent increase in value on the previous financial year and a 28 per cent increase on the previous record set in 2002/03 when the bureau secured 47 events worth $291 million.
Mr Newman said it was important to note this result was achieved with a bid success rate of 72 per cent, indicating both Sydney’s ongoing appeal as a destination and the professionalism of the bureau’s bid team.
“Maintaining such a high strike rate demonstrates that the bureau’s limited resources are being allocated strategically,” he said.
A significant win for the bureau during the 2005/06 financial period was the securing of the 2014 Rotary International Convention, which the bureau predicts will bring 22,000 delegates to the city and inject an estimated $63.8 million into the local economy.
Another major contribution to the record results in 2005/06 was the selection of Sydney to host World Youth Day in 2008. The SCVB described this event as “enormous”, predicting that will bring 200,000 people to the city and inject $196 million into the local economy.
“To achieve our best result ever last year was all the more satisfying when you consider the intense competitive environment we operate in,” said managing director of the SCVB, Jon Hutchison.
Mr Hutchison said that competition in the business events market would continue to strengthen year-on-year, not only on a national level but internationally as well.
“When Sydney bids for an event we bid against cities around the world that are just as hungry for new meetings as we are, and maybe hungrier,” he said.
“A looming issue for Sydney to face is that every convention, meetings and incentive city in the world has discovered North Asia, mainly China, leading to an onslaught of competition in an environment where, even a year ago, we had a significant edge. This was evidenced by very good results over the last three years.
“It is now much harder to cut through to the decision makers – a challenge which will require more resources and manpower.
“We’re also facing a tough battle on the national front, with increased competition from cities that are expanding their venues – or building new ones – like Melbourne.”
Yet despite rising competition, Sydney has managed to maintain its success and high performance in world rankings.
Figures released in 2006 by the International Conference and Convention Association showed Sydney as the world’s 17th top events destination in the 2005 calendar year, up from 27 the year before. Sydney was the only Australian city in the top 20 and the sixth placed city in the Asia-Pacific region.
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