Business events contribute US$197 million to NSW economy

BUSINESS Events Sydney (BESydney) won business in 2010/11 that will inject an estimated A$186.5million (US$197.7 million) into the New South Wales (NSW) economy.

The 67 business events won by BESydney last financial year will attract an estimated 55,061 delegates, an increase of 28 per cent over 2009/10. The delegates are expected to spend a total of 205,385 days in the state.

Lyn Lewis-Smith, acting CEO and COO of BESydney, said the organisation would continue to work towards achieving Tourism NSW’s goal of doubling the state’s tourism receipts between 2010 and 2020, as well as contribute to the national target of doubling business event revenue from A$7.9 billion to A$15.8 billion by 2020.

Lewis-Smith said the Asian market delivered A$33.1 million of incentive business for Sydney last financial year. “Strong growth opportunities exist in the Asian market, and we will continue to evolve our strategies to win this business for Sydney,” she said.

A key event from the Asian region is the upcoming 2012 Worldwide Chinese Life Conference. The event will see 200 CEOs and approximately 4,000 representatives from mainly Asian finance and insurance companies visiting the city.

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