Expanded Sydney convention space proposal needs funding support

Yesterday’s release of the John O’Neill Review into Sydney Convention and Exhibition Space shows the NSW Government is heading in the right direction to expand the state’s business event capability, but it needs to act quickly or risk falling further behind other sates, peak tourism group TTF Australia (Tourism & Transport Forum) said today.

TTF Australia Managing Director, Christopher Brown, said today’s announcement was a good start but needs to be supported by robust funding.

“We’ve been calling on the Government for the last couple of years to expand convention and exhibition space and capitalise on this high yield sector, so it’s great to see they recognise the need,” Mr Brown said.

“In fact, the O’Neill Review was announced in response to a report* by TTF Australia and the Property Council of Australia, which found that Sydney was losing $218 million a year in Gross State Product and 3,037 jobs, due to its limited convention and exhibition space.

“One of the recommendations of the TTF Australia report, announced in February last year, was to expand convention space at Darling Harbour.”  “It’s positive to see that the Government has taken notice of our recommendation.”

“Now that the NSW Government has committed to expanding convention and exhibition space we want to see them put the meat on the bone and act quickly with a solid funding commitment and detailed timeframes.”

“It’s terrific to see the NSW Government has started to listen to the industry’s needs but we need to move swiftly from educated discussion to action.”

“The Queensland Government today committed $130 million to expand and upgrade its convention and exhibition space, which follows a $370 million funding commitment from the Victorian Government to upgrade its facilities. Other states are throwing huge chunks of change to grow this sector.”

“If NSW is to compete in this environment, it needs the dollars to support the promise.”

“Importantly, a financial commitment to expanding convention and exhibition space would provide a catalyst for some all important private investment.”

Mr Brown said NSW was missing out on attracting major conventions and exhibitions due to lack of available space.

“Sydney’s current convention and exhibition capacity generates $2.3 billion per year and employs 14,600 people.”

“But Sydney is losing out on an additional $477 million a year due to its limited convention and exhibition capacity.”

“In fact, Sydney is missing out on the equivalent of holding a Rugby World Cup every year.”

“The NSW Government’s announcement today shows its commitment to the business events sector and confidence in the Sydney Convention and Exhibition Centre and Sydney Olympic Park.”

Mr Brown said that while the industry welcomed the NSW Government’s renewed focus on tourism, it was keen to see action.

“It’s been a year since John O’Neill commenced his review into major events, convention and exhibition space and tourism marketing.

“So far, we’ve seen the O’Neill recommendations for major events and the Government response, and the O’Neill recommendations for convention and exhibition space.”

“The industry awaits for the Government’s response to the convention and exhibition recommendations and the broader recommendations for tourism marketing.””The longer we wait the more NSW falls behind and misses out on the economic benefits and jobs created by a healthy and vibrant tourism industry.”

A Report by The Mole

*Economic Impact of Expanded Convention and Exhibition Facilities in Sydney, prepared by URS for TTF Australia and the Property Council of Australia, February 2007