International business events have delivered $503 million to New Zealand over the past five years, according to the latest data from the Ministry of Business, Innovation & Employment.

The news was announced today at Conventions and Incentives New Zealand’s (CINZ) annual business events showcase CINZ MEETINGS 2019.

Speaking to media at MEETINGS, Tourism New Zealand director of commercial René de Monchy said the country is outperforming larger, more easily accessible destinations due to its reputation for manaakitanga (hospitality) and hosting.

“New Zealand continues to punch above its weight in an increasingly competitive sector and it’s very much a collaboration of the sector to achieve these results and it’s something collectively we should all be proud of,” he said.

“In the past five years since we established a dedicated business events team, we’ve seen half a billion dollars worth of economic contribution to the New Zealand economy.”

De Monchy said the benefits of business events goes beyond “pure financial dollars and cents”.

As a result of this, Tourism New Zealand has today launched a new project to measure and maximise the lasting impacts of business events on the country.

Tourism New Zealand will identify conferences with the ability to provide long-term benefits for New Zealand and work with conference organisers and delegates to make this happen, such as advancing research opportunities.

“Together we can identify potential impacts in advance of a conference happening and put measures in place to create positive lasting outcomes and benefits for New Zealand and New Zealanders once the conference is over,” said de Monchy.