New data has revealed that business event spending has fallen in Victoria, while other states enjoy larger shares of the $20 billion national spend.
Data released by Tourism Research Australia reveals that Victoria's annual business event visitor spend in 2023-24 was 21 per cent of the national total, a decrease from 36 per cent in 2014.
Meanwhile, both New South Wales and Queensland recorded an increased share of 31 per cent and 22 per cent respectively - overtaking Victoria and injecting $10.36 billion into their economies.
Shadow Minister for Tourism, Sport and Events, Sam Groth, said: "Without a real plan to retain and attract business events back to Victoria, we will see continue to see domestic and international visitors spend their money anywhere but here.
"After a decade of Labor, Victoria is the least business-friendly state in Australia. Is it any wonder that other states are growing their events sector whilst Victoria falls behind?
"Labor cannot manage money, cannot manage events and Victorians are paying the price."
