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September 16, 2015

How Melbourne's Convention Center Drives Victoria's Economy

For the third year in a row, Melbourne Convention and Exhibition Centre’s (MCEC) end of financial year figures have exceeded all previous year-end results, recording a total operating revenue of $76.3 million and pumping almost $1 billion of economic impact into the Victorian economy.

For the first time MCEC has, through an exclusive report conducted by EY, measured the economic and social value of its business events over a 12 month period. In 2014/15, MCEC hosted 918 events with 724,000 business event visitors.

Notably, in post-event surveys conducted in 2014-15, exhibitors overwhelmingly reported the major benefits of exhibiting at MCEC business events as improved brand awareness, leads for future business and the sharing of new knowledge and ideas that enhance research and opportunities for business collaboration. 

“It’s pleasing to see that our exhibitors are realizing the value of networking to produce better research and business investment outcomes locally, nationally and globally. We have recently undertaken external customer journey research to identify opportunities to improve our service, streamline processes and position MCEC as the market leader in an ever-increasing competitive space,” MCEC Chief Executive Peter King said in a statement.  

“We’re ensuring MCEC remains the leading destination for business events and conferences in Australia by investing in the venue’s important Stage Two expansion," Minister for Tourism and Major Events John Eren added. “Our $190 to $210 million investment will ensure that MCEC remains a key contributor to Victoria’s economy.” 

MCEC can also attribute its 2014/15 success to the Club Melbourne Ambassador Program, which last week celebrated its 10 year anniversary. Ambassadors secured and hosted 20 of the world’s most prestigious conferences over the past 12 months to deliver an economic impact of $58 million for Victoria.

“Our forward bookings and business outlook remains incredibly healthy, as we continue to create memorable event experiences and generate a great legacy for the city,” King added. 

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