Business Event’s Australia’s major incentive showcase, Australia Next (previously known as Dreamtime) was brought to a close at the Tanks Art Centre in Cairns.
The Tanks Arts Centre is a multi-use, contemporary arts and events facility creatively housed in three repurposed WWII oil storage tanks situated within the Cairns Botanic Gardens.
Over the two days, 80 international business events buyers, 15 media, and 96 Australian sellers – with all Australian CVBs in attendance – conducted pre-scheduled appointments at the recently-renovated Cairns Convention Centre, as well as experienced Tropical North Queensland’s event delivery capabilities. International buyers and media also took part in pre- and post- familiarisations in destinations around the country.
Tourism and Events Queensland CEO Patricia O’Callaghan said the event was a great opportunity to welcome some of the key markets to Australia Next in Cairns.
“Australia Next supports bringing high-value incentive travellers to our state which will be key in growing our international overnight visitor expenditure to A$11 billion (US$7.4) billion by 2032,” O’Callaghan said.
“Tourism and Events Queensland’s Business Events strategy sees us aiming to achieve 20 per cent of the Australian market share by 2027, a growth of four per cent which will bolster our international visitor numbers.”
Her hospitality career has included postings at numerous luxury hotels and resorts around the world, including in North America, Asia, the Middle East and Europe.
He joins the new resort from Courtyard by Marriott Bangkok where he served as general manager.
Thailand-based DMC Tripseed has launched the first phase of its Economic Distribution Disclosure Initiative, a project that aims to map and label the economic benefit distribution of its Thailand operations.
To date, over 80 day tours and half-day tours have been labelled on the Tripseed website, identifying where the economic benefit from each tour goes geographically.
This initiative is said to be the first in the touring industry.
Tripseed defines economic leakage as the phenomenon where money spent by tourists does not remain in the local economy, but instead flows out to other regions or countries. This often occurs when tourism-related businesses are owned by foreign entities and individuals, or when goods and services are imported rather than sourced locally.
Measuring and reporting on leakage transparently is crucial to creating a more sustainable and positively impactful tourism industry. By addressing these imbalances, the tourism sector can lead efforts to create fairer economic opportunities, ensuring that tourism benefits genuinely reach locals.
Reducing leakage benefits destinations by ensuring more revenue remains within destinations and local communities, and goes hand-in-hand with ethical tax conduct towards fostering sustainable development and providing funds for improving public services and infrastructure.
Tripseed’s methodology for calculating leakage reveals insights into revenue distribution. This first phase introduces a labelling system that highlights the geographical beneficiaries of touring activities. Secondary and tertiary phases will disclose further details about the genuine economic beneficiaries of tours, while a complete company-wide disclosure will detail how much of Tripseed’s cost base goes toward local individuals and businesses versus leaks overseas to foreign-owned businesses and multinational corporations.
Ewan Cluckie, co-founder and director of growth at Tripseed, said: “We ensure that all our revenue and profits attributable to Thailand products and services are recorded in Thailand, where we also pay our taxes. Although this might appear minor, profit shifting to foreign countries is a significant issue in the DMC sector, diverting essential income away from local economies. This practice often prioritises maximising profitability over truly investing in the sustainable development of the destinations where they operate.”
“By refining our methodology, we strive to uncover genuine socio-economic contributions to local communities and foster a tourism model prioritising ethical practices over profits.”