Destination Guide: Australia

$2.5bn of Australian business events lost each month over COVID-19 shutdown

Immediate support is needed in this ‘dire situation’, says chair of Business Events Council of Australia.

Business events companies in Australia have been hit hard and fast by the rapid escalation of the virus around the globe.

A statement by the Business Events Council of Australia (BECA) says that shutting down events is costing the economy $2.5 billion every month. 

“The business events sector brings in more than $30 billion to the Australian economy, employs more than 193,000 and runs over 430,000 events every year,” said the BECA statement.

“The business events sector had seen a massive reduction in revenue across the entirety of quarter one 2020 and as of this week, revenue is zero.”

Chair of the Business Events Council of Australia, Dr Vanessa Findlay, added: “The business events sector is reliant on the tourism supply chain including venues, accommodation, transport, event organiser, exhibition, catering, audiovisual, decorator, and entertainment businesses and more – most of which are small and medium enterprises.

“We know that these businesses are at immediate risk of closing their doors, some already have, and most have had to let go casual staff and are processing redundancies for the majority of their full and part-time staff now. It is a dire situation for the sector, for the nation, for the world.

“Our immediate focus is on working with the governments of Australia to ensure we can retain as many businesses and jobs as possible including through a package of wages support, loan repayment relief, low or no-interest loans and tax deferrals.” 

BECA and its member organisations are conducting an industry-wide survey to ensure the support the sector receives from the government is targeted at the areas most in need.

The association is also working with the government to design and implement a support package.  

For more features and breaking news sign up to C&IT Magazine's daily Newstracker.

Have you registered with us yet?

Register now to enjoy more articles
and free email bulletins.

Register now
Already registered?
Sign in
In pictures: Events industry joins nationwide NHS tribute

In pictures: Events industry joins nationwide NHS tribute

As the UK came together to thank frontline healthcare workers, venues did their bit to mark the occasion.

Fears freelancers will be forced into debt despite UK chancellor’s intervention

Fears freelancers will be forced into debt despite UK chancellor’s intervention

Relief for freelancers welcomed by HBAA chair amid concerns many will have to take out loans before a payout in June.

How many MICE businesses have a complete travel ban in place?

How many MICE businesses have a complete travel ban in place?

Nearly 2,000 MICE professionals reveal whether their company has banned business travel in part three of C&IT's Impact of Coronavirus Report.

LIVE UPDATES: Which international events are being cancelled

LIVE UPDATES: Which international events are being cancelled

All the latest postponements and cancellations as the world deals with the spread of coronavirus.

Events industry applauds ExCeL's hospital transformation

Events industry applauds ExCeL's hospital transformation

The conference venue is expected to be ready for action as a huge coronavirus hospital by next week.

‘Kill the agenda, it gets in the way of creativity’

‘Kill the agenda, it gets in the way of creativity’

A detailed event schedule doesn’t leave much room for flexibility or self-expression, says INVNT’s Adam Harriden.

How coronavirus is changing event contracts and insurance forever

How coronavirus is changing event contracts and insurance forever

A need for more detailed contracts has been highlighted in C&IT’s Impact of Coronavirus Report, which surveyed 2,000 event professionals.

Aeorema Communications acquires Eventful

Aeorema Communications acquires Eventful

The deal marks Aeorema's 'conviction in the future and recovery of the events and MICE industry'.

Largest stimulus bill in US history agreed

Largest stimulus bill in US history agreed

A nearly $2-trillion package will boost the US economy amid the COVID-19 outbreak after both sides of the senate reached an agreement.

Industry support line launched by Stress Matters

Industry support line launched by Stress Matters

Help by phone and Whatsapp is available to event professionals who would like to talk to a trained mental health first aider.