Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

Business events sector generates high value for New Zealand

News release
7 April 2016

Business events sector generates high value for New Zealand


Business events are generating high value for New Zealand’s visitor industry, and it can only get better, says Conventions and Incentives New Zealand (CINZ).

Figures released by the Ministry of Business, Innovation and Employment (MBIE) for the year to December 2015 show the average per night delegate spend is up 15 per cent from 2014.

CINZ Chief Executive Sue Sullivan says business events are a major growth sector for New Zealand with international convention delegates spending an estimated $350 per night, twice as much as other visitors to New Zealand.

“This can only grow as our value proposition strengthens, and we gear up for major new convention centre and hotel infrastructure which will give us the ability to cater for much larger multi-day conventions,” Sue Sullivan says.

“What is not reflected here is the economic impact these international delegates have after they leave the country. We do not account for the ongoing relationships, knowledge transfer or commercial transactions that happen. The numbers don’t include the spending by their partners or family either.

“The broader benefits of a growing business events economy are equally important. New Zealand’s business events sector provides key support for infrastructure development, business relationships, expertise and industry investment, with the benefits spreading across both city and regional economies,” she says.

MBIE’s latest figures show conventions and conferences generated around 846,000 visitor nights in 2015, of which 44 percent were from overseas delegates. Total spend by international convention visitors was up 11 percent compared to 2014, driven by the increase in per person spend and also an increase in delegates, up nine per cent. They spent an average of 5.8 nights in New Zealand.

Arrivals from Australia were up 10 per cent for the 2015 year, while other international arrivals were up eight per cent.

“The work we are doing in Australia and the international profile we are receiving through Tourism New Zealand is really starting to pay off,” Sue Sullivan says.

“Our annual two-day exhibition CINZ MEETINGS is an international showcase for New Zealand, set for June in Auckland. Last year the trade show hosted 600 domestic and international buyers and generated $56 million in business bookings."

Domestic conference attendees are especially important to regional New Zealand. CINZ says domestic delegates from outside the host region spend on average $509 per night, up 15 per cent on 2014.

“The domestic market continues to grow, with delegates travelling to smaller destinations and staying on average four nights in the event region.”


ENDS


© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Reserve Bank: Policy Lessons From A Year Of Covid-19

The Reserve Bank of New Zealand – Te Pūtea Matua was in a sound position to continue to meet its mandate in the face of the COVID-19 induced economic shock. However, we must continue to transform so as to remain relevant and effective in addressing longer-term challenges, Reserve Bank Governor Adrian Orr said... More>>


Transport Industry Association: Feb 2021 New Vehicle Registrations Strongest On Record

Motor Industry Association Chief Executive David Crawford says that the February 2021 figures are the strongest for the month of February ever. Registrations of 12,358 were 8.0% up on February 2020. Year to date the market is up 7.1% (1,735 units) compared to the first two months of 2020... More>>

Paymark: Lockdown Equals Slowdown For Some

The three days of lockdown for Auckland earlier this month made a clear impression on our retail spending figures. While only Auckland moved into Level 3 lockdown, the impact was felt across the country, albeit at different levels. Looking at the ... More>>

Infrastructure Commission: Te Waihanga Releases Report On Water Infrastructure

The New Zealand Infrastructure Commission, Te Waihanga’s latest discussion document highlights the importance of current reforms in the water sector. Its State of Play discussion document about water infrastructure is one of a series looking at the ... More>>


OECD: Annual Inflation Picks Up To 1.5% In January 2021 While Euro Area Records Sharp Increase To 0.9%

Annual inflation in the OECD area picked up to 1.5% in January 2021, compared with 1.2% in December 2020. Following a rebound between December and January, the annual decline in energy prices was less pronounced in January (minus 3.9%) than in December... More>>


Hemp Industries Association: Could The Next Team NZ Boat Be Made Entirely Of Hemp?

With The America’s Cup due to start in a few days’ time, innovators from a very different sphere have been wondering how long it could be before New Zealand could be competing in a boat entirely built from hemp, with the crew eating high-energy, nutritious hemp-infused foods and wearing high-performance hemp kit..? More>>


ACT: Matariki Almost A Half Billion Dollar Tax On Business

“Official advice to the Government says an extra public holiday at Matariki could cost almost $450 million,” ACT Leader David Seymour can reveal. “This is a perfect example of the Prime Minister doing what’s popular versus what’s responsible. ... More>>

Genesis: Assessing 6,000 GWh Of Renewable Generation Options For Development By 2025

Genesis is assessing 6,000 GWh of renewable generation options for development after starting a closed RFP process with 11 partners. Those invited to participate offer a range of technologies as Genesis continues to execute its Future-gen strategy to ... More>>