Economic boost from business events in Melbourne rises 25%

The Melbourne Convention Bureau has achieved a 25% increase in economic contribution from secured business events for the 2017/2018 financial year compared to the previous year. The economic impact amounted to A$396 million (US$291.34 million) from a total of 176 events secured and over 79,000 new visitors anticipated, as well as 4,739 jobs created.

Several notable events secured by the bureau include the Global Public Transport Summit 2021, World Ophthalmology Congress 2022, VidCon Australia 2018 and 2019, and General Assembly and Congress of the International Union of Crystallography 2023.

These events collectively contributed A$155 million (US$114.04 million) to the economy of the Victoria state. Conferences in the health and medical sector alone accounted for 37% of conferences secured in the past financial year.

Meanwhile, the bureau secured 134 events in corporate meetings and incentive business, worth over A$82 million (US$60.30 million) with over 25,500 delegates to the city and the region. The Cathay Life Incentive tour was the highlight, with over 2,300 visitors and an A$10 million (US$7.35 million) boost to the local economy.