Asian incentives most valuable market for Sydney
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Asian incentive delegates are Sydney’s highest yielding visitors, outspending holiday visitors by an average of 6.5 times, new research has shown.
According to a new report from Business Events Sydney (BESydney), Asian incentive events in New South Wales offer an average spend of AU$974 (US$761) per delegate, compared to AU$151 for regular leisure visitors. And some delegates can spend up to (AU$1,418), 9.4 times higher than normal holidaymakers and five times more than other business visitors.
“This is the first study we’ve undertaken on the corporate incentive market from Asia and it’s an important one for us,” said BESydney’s CEO, Lyn Lewis-Smith. “We’ve seen 20% 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.
“These results, in tandem with on-the-ground insights gathered from our in-market teams, will allow us to better understand the Asian incentive traveller and ensure Sydney is best placed to meet this market’s growing and changing needs well into the future,” she added.
Shopping was found to be a key part of the delegate experience for Asian visitors. The research showed that incentive travellers were likely to shop extensively because it demonstrates “affluence and achievement”, and because most of their other trip expenses were covered by the incentive.
On average, the highest expenditure for incentive delegates was on clothing, handbags and shoes, followed by souvenirs, jewellery and toys.
Sydney has welcomed corporate incentive events worth more than AU$35 million so far in 2015. This segment currently makes up about 25% of the business travel industry revenue.
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