Events season critical to Sydney’s economic recovery

International Convention Centre Sydney (ICC Sydney) and the Property Council of Australia have welcomed an increase in events in Sydney as a means to accelerate the CBD’s economic recovery as the New South Wales Government continues to ease operating restrictions.

Both organisations have welcomed the boost event attendees provide through visitor spending across the city’s restaurants, cafes, hotels and retail outlets but also the contribution business and entertainment events add to the overall vibrancy of the city.

The Property Council of Australia’s NSW Executive Director, Luke Achterstraat said the organisation was delighted to see a return to in person events at ICC Sydney.

“Venues such as ICC Sydney are home to critical business events that help to draw visitation to the CBD. Not only is this a significant contributor to the city’s economic recovery, it is a signal that our city is a great place to work, visit and have fun in,” Mr Achterstraat said.

“As we have made great strides in our recovery journey, we are ready to proceed with our COVID safe event plans with great confidence at ICC Sydney.

Mr Achterstraat also highlighted that businesses and staff had come out in full force to enjoy events again.

“Two of our largest ever events, both with over 1300 registrations, have been scheduled for the same week and both have sold out well before the close date of registrations. People are eager to get back to face-to-face events, reconnect with their peers and networks, and embrace a sense of the new normal.

“This level of confidence demonstrates that considered event planning for COVID safe events is exactly what people are after as we take huge leaps towards a vibrant and activated city.”

ICC Sydney will run another 60 events run before Christmas and has over 250 events already confirmed for the first half of 2022. The visitors these events attract are on their way to return to contributing $900 million a year to the local economy.

ICC Sydney CEO, Geoff Donaghy outlined that less than 10 percent of the economic benefit of events held at ICC Sydney were linked to the venue itself.

“Event organisers, talent, attendees and exhibitors invest the majority of their economic impact in our hotels, restaurants, bars, retail outlets and tourist attractions, and more than that, the research and development discussed at conferences have the potential to attract ongoing business investment for our academic centres,” Mr Donaghy said.

“In convening an increased number of face to face meetings and events, ICC Sydney and the industry we operate in will play an important role in revitalising Sydney’s CBD. Our events have far reaching benefits for the local economy and into the regions through our extensive supply chains,” he said.

One of the earliest events to be delivered is The Property Council of Australia’s Women in Property Lunch, which will attract 1,200 guests from across the state to ICC Sydney in November, closely followed by the Council’s NSW Christmas lunch and the national Innovation and Excellence Awards in December.

The visitor spend of attendees to events at ICC Sydney was $900 million during the 18/19 financial year and was reduced to $80 million as a result of the pandemic during the 20/21 financial year.

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