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Little known about Australia’s incentive business until now!
Geoff Buckley, Tourism Australia’s Acting CEO announced at Dreamtime over the weekend, the results of Tourism Australia’s 2004/2005 Business Incentive Study, which was commissioned by Tourism Australia to increase the understanding of the incentives sector.
He told the Mole that we always undertake a lot of research before we enter into a market or sectors but found it very hard to find any information about the incentive business into Australia and elsewhere. As a result, we commissioned this study to assess if this was a worthwhile sector for us to invest our funds.
The study follows on from the 2003 National Business Events Study (NBES) report released in 2004, with the new report focussing solely on the incentive market, providing a valuable insight for the incentives industry.
Geoff added that the Study says that the incentive sector is worth more than $300 million to our inbound tourism expenditure, with over 150,000 incentive visitors coming to Australia during 2004/05 for incentive programs organised by companies rewarding their employees for achieving a range of corporate goals.
Tourism Australia also says that the average revenue from an incentive visitor is three times that of a leisure visitor, bringing $375 per day against $91 per day into Australia’s economy.
Report by The Mole
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