Business events across South Australia injected a record $336 million into the state’s economy last financial year, thanks in part to an Adelaide Economic Development Agency (AEDA) grant designed to boost city activity.
From events for the world’s medical community to conferences for plumbers — Business Events Adelaide (BEA) has lured more than 160 events to Adelaide, worth more than $223 million over the past financial year.
Part of the not-for-profit member organisation’s funding comes from AEDA’s Strategic Partnerships Program, which has opened applications again for 2025/26.
BEA chief executive Damian Kitto says the grant has helped the organisation unlock economic growth for both the city and the broader state.
“Business events deliver resilient economic growth for the city and South Australia and ensures more financially secure and profitable operations for (our) 170 strategic partners and members, many of whom are city ratepayers,” Mr Kitto says.
“Our focus to date has been to consolidate Adelaide as a destination of choice domestically, however, there are significant opportunities for growth internationally.
“Delegates coming from overseas tend to stay longer and spend more, so are hugely beneficial to Adelaide.”
Last year, BEA attracted 174 businesses events with 60,000 delegates to Adelaide, each spending about $1,165 a day in Adelaide while visiting.
The events not only drive significant daily spending by delegates, but also generate long-term economic benefits that often endure into the future. This could include research collaborations, new business partnerships, startup ventures, and even contribute to population growth as skilled professionals and workers are drawn to the region.
“Business Events Adelaide’s year-round operations (enhance) Adelaide’s position as an affordable, desirable and unique destination to host national and international business events,” Mr Kitto said.
“Organisations should get involved with AEDA and the SPP so that they can contribute to a vibrant and dynamic city experience.”
AEDA’s Strategic Partnerships Program: City Building Stream aims to boost Adelaide's economic landscape by supporting initiatives that make the city an exciting place to live, work, invest and play.
Up to $330,000 + GST per recipient, per financial year, is available to successful applicants that can show how their proposal can substantially increase economic activity.
These include initiatives that:
· Increase the number of people working and living in the city, including students
· Support existing businesses to grow and attract new firms
· Leverage investment in the city’s innovation assets to drive greater economic benefit for the CBD
· Position Adelaide as a world-class events city
· Drive tourism initiatives that attract regional, national, and international visitors
· Enhance the value proposition of Adelaide as a destination to work, invest, live, study, and visit.
Applications close Thursday, 28 November 2024.
Learn more here.