Sydney will host Sibos 2018, the world’s biggest and most influential financial conference, in a coup that will inject $50 million into the NSW visitor economy.

TTF acting CEO Trent Zimmerman said, “Sibos 2018 will see more than 6000 delegates converge on Sydney, delivering an estimated $50 million boost to the New South Wales economy.

“The conference will be held in the new International Convention Centre Sydney and could not have been held in Sydney without this investment by the New South Wales government.

“The NSW government’s focus on the visitor economy is helping the state’s economy grow and also helping tourism fulfil its undoubted potential as an economic development strategy for Australia.

“Congratulations also to Business Events Sydney on securing this valuable event, which will also allow delegates to visit Australia’s new financial services hub at Barangaroo, also under construction.

“The event emphasises Sydney’s position not only as the financial services capital of the Asia-Pacific, but also as a centre of business events excellence.

“Business events attract high-yield visitors who stay in our hotels, eat in our restaurants, go shopping and visit our attractions, and many will bring a family member with them and take side trips to other destinations around the state and across Australia, spreading the benefit of the conference.

“A University of Technology Sydney study for Business Events Sydney found that international business events visitors spend $694 per conference day in NSW, and that’s on top of conference registration fees, airfares and spending in other states and territories.

“That spending by international business events visitors makes business events vital to Australia’s chances of reaching the Tourism 2020 target of doubling overnight visitor expenditure to $140 billion.

“Business events also play a critical role in the sharing of new information and positioning Australia as a key contributor to the global knowledge economy.”