In a groundbreaking announcement at their Annual General Meeting on November 6, 2024, Business Events Adelaide revealed record-breaking achievements for the 2023-24 financial year. Chair Ian Horne proudly reported that the organization secured 174 future business events, generating an impressive $336 million economic impact for South Australia. This figure reflects the vibrant resurgence of Adelaide’s business tourism sector, which continues to attract a high calibre of international and interstate delegates who, on average, spend $1,165 daily in the city.
Horne noted the significance of these results, especially in his first year as Chair, describing the record as a clear indicator of Adelaide’s rising prominence in the business events arena. “It is extremely pleasing,” Horne stated, “to report on a year of such strong achievement. Attracting 174 business events and over 60,000 delegates to Adelaide has not only filled our city hotels but has also injected vital economic growth and commercial opportunities across the state.”
Updated Valuation Model Recognizes Increased Delegate Spending
An updated economic model developed by the South Australian Centre for Economic Studies at the University of Adelaide offers new insights into the impact of business events on the local economy. The revised model factors in the significant daily expenditure of business delegates, which has surged due to an enhanced portfolio of high-quality accommodations and competitive daily rates. “Our valuation of business events was groundbreaking when it was first devised,” Horne explained, “but time—and Adelaide—has moved on. We are confident this update reflects the true economic contribution of business events to our State.”
The focus on capturing the substantial spending power of these high-value visitors underlines the transformative economic role of business tourism in Adelaide. With business travellers contributing more than leisure tourists, this sector supports Adelaide’s growth ambitions as a premier destination for international conventions, conferences, and exhibitions.
State Government’s $14M Commitment to Business Events Fund
The South Australian government, recognizing the economic importance of business events, allocated $14 million over the next four years to the Business Events Fund. This initiative aims to drive visitor numbers and economic activity during winter, which is typically a quieter season for tourism in South Australia. Minister for Tourism Zoe Bettison highlighted the strategic importance of business events, stating, “Business events like conferences and conventions are the bread and butter of our visitor economy, filling our hotels throughout the week with delegates who spend significantly more per person than leisure visitors.”
This financial commitment underscores the state’s commitment to growing the business events sector, which is now a critical pillar of Adelaide’s tourism strategy.
Global Exposure Through Tourism Australia’s ‘Dreamtime’ Event
Adelaide’s global appeal as a business destination was further strengthened when it hosted Tourism Australia’s ‘Dreamtime’ event in November 2023. Known as “Australia Next” after its recent rebranding, the event returned to South Australia for the first time in seven years, bringing influential international event organizers and media to experience Adelaide’s offerings firsthand. Tourism Australia estimates that coverage from the event reached an audience of over 112 million people worldwide, positioning Adelaide as a sought-after destination for international business events.
Infrastructure Investments Drive Adelaide’s Appeal
Ongoing investments in infrastructure support the rapid growth of Adelaide’s business events sector. According to Damien Kitto, CEO of Business Events Adelaide, the sector’s remarkable achievements result from a coordinated ‘Team Adelaide’ approach involving skilled professionals and state-of-the-art facilities. “Our 2023-24 results are a testament to the skill, commitment, and hard work of the business event sector,” Kitto remarked. “With the investment in infrastructure—redeveloped and new hotels, products, and experiences—Adelaide now offers an enviable blend of big city capability with a boutique, compact feel.”
The city’s compact layout and world-class amenities make it uniquely attractive for business event organizers seeking an accessible yet high-quality venue. Adelaide’s appeal is further enhanced by the recent expansion of its accommodation options and diversified local experiences, which cater to the high expectations of international business travellers.
Adelaide’s Business Events Future: A Promising Outlook
With a record-breaking $336 million generated in a single year, Business Events Adelaide has set the stage for continued growth and economic prosperity. Adelaide is transforming into a leading business event destination in Australia and positioning itself as a competitive player on the global stage. As infrastructure, government support, and Adelaide’s reputation expand, the city is poised to attract even more high-profile business events, further driving economic benefits across South Australia.
Business Events Adelaide’s 2023-24 achievements signal a bright future for Adelaide’s business events sector, offering a model of success for cities worldwide looking to capitalize on the economic potential of business tourism.
Written by: Octavia Koo
