International Convention Centre Sydney (ICC Sydney) released its 2019 financial year performance results, which saw the 1.4 million delegates and patrons attending events at the venue generate A$896 million* in direct expenditure for the State in its third year of operation.
International and interstate visitors helped generate 73% (A$654 million)* of the total expenditure. Furthermore, the venue’s operations and events delivered an economic contribution to New South Wales of A$902 million*, generating 5,790 full time equivalent jobs* for the local economy and 1.77 million overnight stays*.
A key component of the NSW Government’s suite of infrastructure projects, ICC Sydney is a A$1.5 billion development which comprises an industry leading convention centre, exhibition centre and the 8,000 seat First State Super Theatre.
ICC Sydney CEO, Geoff Donaghy said ICC Sydney’s commitment to continually improving its performance is making a real difference for Sydney and New South Wales.
“ICC Sydney is generating economic and social benefits for our citizens and our approach to providing unique experiences through event programming places local talent centre stage and elevates Sydney’s reputation for creativity and innovation.
“Another key contributor to our success is the talented team behind these results. Our EY Sweeney delegate satisfaction survey again revealed an extraordinary 99% rating and our client satisfaction rating increased from 97% to 99%.”
NSW Treasurer, Dominic Perrottet said ICC Sydney is boosting the economy, creating jobs and giving back to the community.
“ICC Sydney is a best practice example of why the State invests in major infrastructure projects – delivering a win for the people of NSW, the economy and visitor experiences while enhancing our city’s reputation globally.”
Further ICC Sydney achievements in 18/19 include:
- Invested more than A$12.2 million in direct food and beverage spend in regional New South Wales, representing 97% and 92% of the venue’s food and wine purchases
- Engaged 129 New South Wales-based food and beverage suppliers
- Welcomed 1.4 million visitors to more than 671 core events
- This includes hosting 33 major international events such as Sibos, the world’s largest financial services conference, delivering A$40 million in economic impact alone alongside the World Congress of Accountants, the Metropolis International conference and the 19th International Microscopy Conference (IMC19)
- Achieved 16 awards and accolades, which combine to a total of 47 since opening
- Staff retention rate of 97.85%
- First Convention Centre to launch a Reconciliation Action Plan
Following a strong performance, ICC Sydney’s pipeline of events is solid, having already secured a further 1,520 leading major national and international events across sectors to 2030.
*ICC Sydney delegate expenditure and economic impact data was developed using a February 2019 Deloitte Access Economics model.
