AUSTRALIA – The Melbourne Convention and Visitors Bureau’s (MCVB) interim report on The Holistic Value of Business Events has found 50 per cent of respondents gained immediate information that enhanced their personal or business performance.
The longitudinal study, conducted by the Centre for Tourism and Service Research at Victoria University, was commissioned by MCVB in February 2009, to identify and quantify the additional benefits associated with selected business events over a two-year period.
The study covers four conventions, and their associated exhibitions, held in Melbourne in 2009, ranging in size from 400 to 800 delegates in the medical, scientific and environmental/sustainability fields, and will track the benefits pre, during and post event.
A year into the study, the interim report has revealed that there is strong evidence of the additional benefits arising from staging a Business Event. Results include:
- 54 per cent of respondents developed new business contacts and relationships;
- 63 per cent of respondents found their industry sector profile was enhanced because of the Event;
- 82 per cent of respondents built relationships with speakers, delegates, exhibitors and/or organisers on-site.Furthermore, more than half the recipients indicated they had:
Experienced additional ‘expressions of interest’ from potential customers or investors;
- Gained increased investor and/or competitor knowledge;
- Experienced innovation or opened business potential.
The CEO of MCVB, Sandra Chipchase, explained that although previous industry studies had acknowledged the value of business events ‘beyond tourism’, until now there had not been an attempt to quantify their additional benefits over a series of years. “It has long been recognised that conventions create new and repeat visitors, attract accompanying persons, drive regional tourism and generateeconomic wealth and export orders for host cities,” she said.
“The ongoing challenge has been in attempting to quantify the additional benefits derived from Business Events such as the development of new business relationships, innovation, changing perceptions of a country, city or industry, increased market intelligence and/or improved performance.,” she added.
Professor Jago said that evidence gathered from self-complete questionnaires at the conventions, in addition to web-based and telephone interviews 11 months after the conferences had shown significant, positive results.
A copy of this report can be found here.
Any conference-related news? Email sarah@mashmedia.net
