The Melbourne Convention Bureau (MCB) reports it has achieved a 25 percent increase in economic contribution from secured business events in the 2017/2018 financial year over the previous year, and achieved its strongest economic impact ever delivered.
Economic contribution reached an impressive $396 million from 176 events secured, which will bring the highest number of visitors to the state in the past seven years, with over 79,000 new visitors anticipated.
The record-breaking year can be attributed to years of work resulting in several significant conference wins across a diverse range of sectors, the MCB said. These include the Global Public Transport Summit 2021, which is the world’s largest public transport event, the World Ophthalmology Congress 2022, VidCon Australia 2018 and 2019 and General Assembly and Congress of the International Union of Crystallography 2023 – which will collectively contribute over $155 million to the Victorian economy.
The series of high-profile international association conferences confirmed ensure a strong pipeline of business and continued significant economic contribution to Victoria up to 2024, providing long term certainty for Victoria’s visitor economy.
Conferences in the health and medical sectors are most lucrative, making up 37 percent of conferences secured in the past financial year in the field.
Victoria’s corporate meetings and incentive business was significantly bolstered with MCB securing 134 events which will deliver over $82 million and over 25,500 delegates to the city and regional Victoria.
The most significant incentive win was the Cathay Life incentive tour, which delivered over 2,300 visitors to Victoria’s regions and injected $10 million into the economy, with a significant proportion absorbed into regional communities.