New research released by Business Events Sydney (BESydney) reveals that Asian incentive delegates are Sydney’s highest yielding delegate, outspending holiday visitors by an average of 6.5 times, and up to as much as 9.4 times.
International incentive delegates spend on average $974 compared to $151 for leisure visitors, with shopping a key part of the delegate experience for Asian visitors.
Commissioned by BESydney and developed in collaboration with the University of Technology, Sydney (UTS), Asian incentive events in New South Wales: expenditure and retail impact analyses the corporate incentive market, with a focus on Asia. The report measures the expenditure of both delegates and organisers of Asian incentives in New South Wales (NSW), and includes insights into the retail impact of such events.
Speaking at the Sydney media conference at IMEX Frankfurt (May 20), BESydney CEO Lyn Lewis-Smith said the study will help ensure the industry’s “long-term credibility, accountability and sustainability”.
“As we increasingly engage outside our industry with government, business and industry in partnerships that deliver greater returns for our clients and our communities, the imperative for quality data will become even greater,” she said.
Launching the study in Frankfurt, UTS Business School researchers Dr Deborah Edwards and Dr Carmel Foley said tourism was emerging as a foundation of prosperity for many economies.
"It’s important that governments and communities understand the benefits that business events bring to their destinations, so they get the right support,” said Dr Edwards. "We also hope the knowledge generated by this study will inform innovative and strategic activities in business events tourism in the future.”
