As regional Victorian tourism operators approach the end of another peak summer season, regional towns and cities should look to secure business events during off-peak periods to drive significant economic contributions to their local communities.
An independent study commissioned by Business Events Victoria (BEV) and conducted by Urban Enterprise found that a quarter of all business event visitors to regional Victoria were generated by BEV members.
Tourism Research Australia data shows that regional business events contributed $841 million in expenditure during 2023-24.
A cost-benefit analysis undertaken as part of the study revealed that for every dollar of funding provided to BEV, $16 is generated for Victoria’s regions through business events.
Meanwhile, almost a third of BEV leads originated from outside Victoria, with an estimated $1.9 million in direct visitor expenditure coming from interstate.
In 2023-24, Victoria hosted approximately 5.2 million business event visitors, with regional Victoria welcoming around 42% of all attendees. Altogether, business event visitors generated $4.2 billion in expenditure, with the majority coming from domestic overnight visitors.
Business Events Victoria General Manager Chris Porter says the study underscored the tremendous value business events bring to regional Victoria—not only through economic growth but also by showcasing the state’s unique destinations to visitors from across Australia and beyond.
“Event organisers are increasingly seeking unique and tailored business events, and regional Victoria delivers these in spades,”
“Regions known for key industries can curate specialised experiences for delegates, including technical tours of Victoria’s world-class industries based in regional locations,” said Porter
“Business events also deliver long-term benefits—research shows that visitors who travel to a region for business are significantly more likely to return for leisure with their families.
“BEV is now looking to capitalise on this momentum, driving even greater economic returns and opportunities for regional communities,”
“We will continue to work closely with the State Government, industry, and business event organisers to build on this success and expand the diverse offerings available in regional Victoria.” he said.
The long-standing, Victorian Government-funded Regional Victoria Business Events Program, delivered by BEV, has boosted regional Victoria’s appeal as a business events destination.
The program supports national businesses in hosting events, including conferences, trade exhibitions, seminars, and corporate meetings. It is estimated to generate $13.8 million in direct and indirect visitor expenditure.
To build on the program’s success, BEV is seeking an additional $3 million in funding over four years. This uplift would result in an estimated increase in direct visitor expenditure from $5.3 million to $11.8 million per annum.
