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ICC Sydney delivers significant economic benefits in third year of operations

ICC Sydney delivers significant economic benefits in third year of operations
August 19, 2019

International Convention Centre Sydney (ICC Sydney) today released its 2019 financial year performance results, reporting that 1.4 million delegates and patrons attended events at the venue in its third year of operation - generating $896 million in direct expenditure for NSW.

International and interstate visitors helped generate 73% ($654 million) of the total expenditure. Furthermore, the venue’s operations and events delivered an economic contribution to New South Wales of $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 Chief Executive, Geoff Donaghy said ICC Sydney’s commitment to continually improving its performance is making a real difference for Sydney and NSW.

Donaghy advised “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 2018/19 include:

• Invested more than $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 NSW-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 $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 ICC Sydney's 2018/19 Annual Performance Review.

Editor's note: The ICC Sydney's delegate expenditure and economic impact data was developed using a February 2019 Deloitte Access Economics model.

Image: ICC Sydney Exhibition Centre. 

Related Articles

8th July 2019 - ICC Sydney Theatre to be renamed First State Super Theatre

10th June 2019 - ICC Sydney recognised for championing sustainable practice

3rd June 2019 - ICC set to be transformed into professional ice hockey stadium

27th May 2019 - ICC Sydney welcomes students to Inaugural Vivid School

24th May 2019 - ICC Sydney launches new multi-platform marketing campaign

6th March 2019 - ICC Sydney acknowledges the contribution of its patron network 

27th February 2019 - Deloitte Study reports ICC Sydney as outperforming its targets

6th December 2018 - ICC secures Best Venue Team at the Exhibition and Event Association Australasia Awards for Excellence

29th November 2018 - ICC Sydney introduces a new dedicated Creative Industries Stream

8th November 2018 - ICC Sydney launches a Reconciliation Action Plan

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