MCECs Economic Impact Continues Record Breaking Pace
By Laura Chodowski|
Melbourne Convention and Exhibition Centre (MCEC) has recorded its strongest economic impact result to date, achieving a record $984.3 million in the 2017/18 financial year, up from $969.1 million in 2016/17.
MCEC’s operating revenue of $77.4 million is attributed to the 1,124 events held across 2017/18. These events attracted 950,385 delegates, including 23 international conventions involving 28,750 delegates and 34 national conventions which attracted 38,626 delegates.
Smaller meetings and events was the largest growth area, increasing by 19 per cent on the 2016/17 financial year.
MCEC continues to be supported by the world-leading Club Melbourne Ambassador Program which, in 2017/18, helped to secure seven international events, yielding an estimated economic impact of over $123 million for Victoria.
Despite increased competition both nationally and internationally, and an operating construction site, the venue has maintained a full events calendar and business as usual approach to achieve a customer satisfaction approval rating of 86 per cent, up from 85 per cent in 2016/17.
MCEC Chief Executive, Peter King said credit is due to the hard-working and dedicated MCEC team.
“Our people have welcomed numerous changes as we adapt our business for the future, all while maintaining our award-winning event delivery and service,” Mr King said.
The expansion is the venue’s most significant business change since the opening of the Melbourne Convention Centre in 2009. The 20,000-square-metre expansion includes 9,000 square metres of exhibition space plus additional flexible, multi-purpose event space, 1,000 seat theatre, multiple meeting rooms, a banquet room and a café and bar.
“A lack of available space saw 315 events, worth $24 million, turned away across the 2017/18 financial year, our expansion aims to service that growing demand,” Mr King said.
“We already have 488 events confirmed or are being negotiated for the new expansion space, between July 2018 and the end of June 2025.
“Our business is going through an exciting period of growth. We welcome the opportunities our expanded infrastructure creates for our venue and Victoria’s wider economy.”