According to a Deloitte Access Economics study, delegates attending events at International Convention Centre Sydney (ICC Sydney) generated A$785 million in direct expenditure for the State in its first year of operation.
Released in ICC Sydney’s inaugural annual performance review, almost A$560 million (71 per cent) of the generated expenditure is derived from international and interstate visitors, resulting in over 1.5 million overnight stays in Sydney accommodation and the creation of 3,700 jobs.
The A$1.5 billion development, which comprises an industry leading convention centre, exhibition centre and a world class theatre, is a key component of the NSW Government’s recent suite of infrastructure projects.
NSW Minister for Finance, Services and Property, Victor Dominello, applauded the venue for outperforming the State’s target of A$200 million in economic benefits for New South Wales.
“The venue has enriched Darling Harbour and become a new icon in our city, underpinning Sydney’s reputation as one of the most desirable events destinations in the world.”
“Like the Hong Kong Convention Centre and London Excel, ICC Sydney has cemented itself as a leading venue and helped shine the spotlight on Sydney,” Minister Dominello said.
CEO of ICC Sydney, Geoff Donaghy, said he is proud of the venue’s achievements, including setting a new standard in the events industry while helping to stimulate the local economy.
“ICC Sydney is proud to have welcomed 1.3 million visitors across 755 different events, a significant number of which have seen boosted success and attendance figures alongside a delegate satisfaction rating of 95 per cent and client satisfaction rating of 93 per cent.
As a result of putting innovation at the heart of the organisation, ICC Sydney has received strong praise, and recognition for its global industry leadership and world class offering.
In 2017, the venue garnered 25 awards and accolades recognising excellence across all facets of the business from its design to human resources and culinary services.
Donaghy said ICC Sydney’s innovative approach to driving meaningful social and environmental outcomes for clients and the wider community has also been key to its strong performance.
“From day one, we have been committed to operating in a socially responsible and environmentally sound manner, creating a ripple effect of positive outcomes that reach well beyond the city.
“Our unique Feeding Your Performance culinary philosophy alone has generated more than A$4.3 million in direct expenditure for a network of more than 85 New South Wales producers while supporting job creation, business growth and stability.
“According to a University of Technology Sydney report, ICC Sydney’s expenditure with local producers generated a total A$8.3 million in economic benefit for New South Wales.
“We are also extremely proud that our consortium achieved LEED Gold status for our all-encompassing approach to sustainability, and we supported 25 charity and not-for-profit events, resulting in more than A$6 million being raised on site,” Donaghy said.