International Convention Centre Sydney (ICC Sydney) today 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.”
Minister for Water, Property and Housing, Melinda Pavey said: “The world-class development is part of an ongoing revitalisation of the precinct that will transform the 20 hectare Darling Harbour area.”
With the business fundamentals in place, and as a major piece of government infrastructure, Donaghy said that international convention centres also have an obligation to look beyond the numbers.
“Our commitment to community is evident across a number of areas including our work with First Nations people and their businesses, students, start ups and entrepreneurs, feeding people in need and providing the creative industries access to our world stage.
“Highlights from across the financial year include becoming the first convention centre nationally to launch a Reconciliation Action Plan, creating opportunities for artists from the Talent Development Program, Bankstown Poetry Slam and the Kari Foundation to perform at ICC Sydney and donating thousands of meals to community members.
“Celebrated as more than a magnificent venue, our investment in our people and our engagement with the community around us are the critical ingredients to our client’s success and the experience we deliver for visitors.”
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.
Click here to view a message from the NSW Treasurer Dominic Perrottet
Click here to view a message from ICC Sydney CEO Geoff Donaghy
*ICC Sydney delegate expenditure and economic impact data was developed using a February 2019 Deloitte Access Economics model.