On Wednesday, 6 November 2024, Chair Ian Horne revealed that 174 future business events had been secured, worth a record $336 million to the State economy.
Mr Horne said “It is extremely pleasing, in my first year as Chair, to be able to report on a year of such strong achievement. 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.”
Mr Horne also announced that the model used to value business events had been reviewed by the South Australian Centre for Economic Studies from 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.
“Our valuation of business events was groundbreaking when it was first devised but time – and Adelaide – has moved on,” Mr Horne explained. “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 have increased both demand and the average daily room rate. We feel confident that this update to our economic model reflects the true impact of a business event on our State.”
Minister for Tourism, Hon. 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.”
And added, “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.”
Highlights of the 2023-24 financial year included Tourism Australia’s Dreamtime (now Australia Next), which returned to SA for the first time in seven years in November 2023 and offered the opportunity to showcase Adelaide and its world-class venues to international event organisers and media. TA estimates that coverage of Dreamtime reached a global audience of over 112 million people, helping to establish Adelaide as a destination of choice.
“Adelaide now offers an enviable blend of big city capability with a boutique, compact feel for business event organisers both domestically and overseas.”
Business Events Adelaide CEO Damien Kitto said “Our 2023-24 results are a 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.”
