Regarding travel for business-related purposes, the conclusion of the GBTA BTI™ Outlook – United States report was that economic turmoil in Europe, slower growth in China and levels of US unemployment were expected to curb business travel growth in the US through the end of the year. With disappointing job gains and the upcoming Presidential election on the horizon, businesses appeared to be taking a cautious approach to their investment in travel until there is greater economic clarity. The report estimated that total US business travel spending would have grown by 2.6 percent in 2012, reaching $257 billion by the end of the year. However, in terms of actual business travel volume, rising business travel costs mean that overall business trip volume in 2012 will in fact have fallen by 1.6% from 2011.


Australia


The Business Events Council of Australia’s (BECA) second annual State of the Business Events industry Report provides a measurable assessment of the substantial contribution that business events make to Australia's economy. The report analyses the series of industry Key Performance Indicators (KPIs) including Australia’s world ranking as a business events destination, conference arrival statistics, statistics on international and domestic business event travel and convention bureau statistics on business bids and wins and losses. These KPIs cover all measurable aspects of the industry and by tracking and assessing progress on each it is possible to gauge the health of the industry as a whole.


The latest report demonstrates a strengthening of the industry in numbers of travelers, with international business event visitors’ spending in Australia increasing by 15 percent, and domestic overnight business event visitors’ spending increasing by 19 percent. However it also shows a weakening in State Government funding support of the Convention Bureaus by 28 percent and suggests that this is reflected in the increase in lost bids (5 percent) and the reduction of successful bids (12 percent). According to the report’s authors, the correlation between the two clearly demonstrates the impact that government support has on the ability of the States to attract business events. In addition, Australia’s geographical location leaves it vulnerable to competition from close neighbours, as indicated in the conclusion of the report:


‘While there has been increased investment in infrastructure supporting the business events industry, in areas such as aviation and accommodation, the growth of the industry in the Asia Pacific region, particularly in China, shows the need to maintain investment in the industry. Australia’s business events challenge will be to maintain its product that is competitive on ROI and quality’.


Reed Exhibitions | EIBTM Trends Watch Report 2012 14


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