ASIAN incentive delegates are Sydney’s highest-yielding business visitors, outspending leisure visitors by an average of 6.5 times, according to a recent study by Business Events Sydney (BESydney).
The CVB also found that international incentive delegates to Sydney can spend up to 9.4 times more per day than holiday visitors – A$1,418 (US$1,091) compared to A$151 – and five times that of other business visitors.
Developed in collaboration with the University of Technology, Sydney, the study analyses the corporate incentive market with a focus on Asia, while measuring the expenditure of delegates and organisers of Asian incentives in New South Wales.
Shopping pursuits were revealed as a key part of the delegate experience for Asian visitors, because shopping overseas demonstrates affluence and achievement, and most expenses were already covered by the incentive trip itself.
‘Quality of goods’ and ‘value for money’ rated highly for these delegates, who are most likely drawn to Western brand names.
Shopping experiences rated highly in incentive destination choice, and the highest expenditure across incentive event and nationality went towards clothing, handbags and shoes, followed by souvenirs, jewellery and toys.
But at the same time, Asian incentive delegates were also found to be knowledgeable and savvy travellers who want more immersive experiences.
Lyn Lewis-Smith, CEO of BESydney, said: “This is the first study we’ve undertaken on the corporate incentive market from Asia and it’s an important one for us. We’ve seen 20 per cent year-on-year growth over the past decade in the value of events secured from Asia and this market now accounts for almost half of the business we secure and deliver each year.”
She added that the study would help improve understanding of the Asian incentive traveller and enable cities to further refine the delegate experience according to the growing and changing needs of the market.
Incentive travel currently makes up about 25 per cent of the global business travel industry revenue and has been rising for the past two decades.
