An influx of luxury hotels and the refurbishment of existing hotels has made Adelaide a popular location for business events.
For example, a 285-room Marriott hotel opened in August at the landmark General Post Office Building. The Sofitel hotel opens in November 2021. Adelaide Oval Hotel and Eos by SkyCity both opened in 2020.
Last year, the Adelaide Business Events Center (formerly the Adelaide Convention Bureau) hosted 174 business events for the coming years. More than 60,000 attendees are expected, with a total value of more than $336 million.
The economic impact of the city’s rising housing prices must be recalculated. The South Australian Center for Economic Research at the University of Adelaide has increased the daily cost of business event representatives from $415 to $765.
Financial incentives for holding conferences in Adelaide
In addition, the South Australian Government has committed an additional $9.2 million over four years to support business activity. Financial incentives are available for business activities that meet certain criteria. In particular, those areas aligned with national strategic priorities include health and medical research, innovation, renewable and clean energy production, space, artificial intelligence and machine learning. There is also a focus on commercial activities that take place during the winter months of June, July and August.
The newest conference booked in Adelaide is the Asia Pacific International Mining Exhibition (AIMEX). It just signed a ten-year deal starting next year.
Adelaide Business Events chief executive Damien Kitto said AIMEX was a major win for Adelaide and would bring more than $250 million to the South Australian economy over the next 10 years.
Australia as a whole is experiencing a surge in business activity. Data from the Australian Tourism Research Center shows that in the year to March 2024, the number of international business event tourists visiting Australia has recovered to 75% of 2019 levels. Reaching nearly A$4.57 billion.
