The New South Wales (NSW) government’s new Visitor Economy Strategy 2035, an ambitious roadmap that sets out to generate A$91 billion (US$59 billion) in annual visitor expenditure and an additional 150,000 jobs by 2035, is expected to help Business Events Sydney (BESydney) unlock new potential across the city.
The strategy, which was developed following extensive consultation with over 500 NSW stakeholders, including BESydney, focuses on five key pillars to accelerate growth.
One of the standouts for BESydney is the commitment to drive growth through events, highlighting the critical role of business events in providing growth opportunities.
BESydney chair, Mary O’Kane, said in a statement: “We are thrilled to see the NSW government’s commitment to driving growth through events. Business events are a multi-billion-dollar global industry and a powerful catalyst for innovation. This strategy will help BESydney to unlock new potential across the city, particularly with the opening of the Western Sydney International Airport next year.”
BESydney CEO Amanda Lampe recognised the significance of the strategy, noting that BESydney had already secured 66 events coming in to Sydney this year, bringing in 46,000 delegates staying 174,000 delegate days, and generating an estimated A$213 million in direct expenditure to the NSW economy.
“As the state’s expert advisor on strategic business event acquisition, we look forward to working closely with the government, Destination NSW, and the local business events ecosystem to achieve these ambitious goals,” said Lampe.
She added: “The large majority of the delegates attending the events we attract are from overseas and visiting Sydney for the first time because of that conference. Beyond their tourism dollars, they contribute to our knowledge economy – sharing their expertise and learning from our local experts. They enter collaborations, they sign business deals, and they invest here. Many also return later for further business, to study, or with their friends and family on holidays.”
The government has outlined three focus areas to deliver business events outcomes.
One, by reinforcing partnerships with BESydney to refresh the business event strategy and ensure that key sectors are identified and prioritised.
Two, by promoting a focus on Western Sydney and regional NSW.
Three, by prioritising opportunities for existing and new infrastructure in key destinations, through an investigation of the supply of venues and infrastructure in Western Sydney and other key locations outside of Sydney.
BESydney expressed commitment to supporting the NSW government in delivering on these focus areas and contributing to the broader goals of the NSW Visitor Economy Strategy 2035.
