Focus on experience-led tourism takes centre stage at 2024 NSW Visitor Economy Forum

October 4, 2024

James Croll

The 2024 NSW Visitor Economy Forum was held yesterday at the ICC Sydney, underscored the importance of rich and immersive visitor experiences in shaping the future growth of the NSW visitor economy.

Hosted by Destination NSW, the event saw a record attendance of more than 600 industry leaders and stakeholders coming from across the state to share insights and hear from visitor economy experts with a program that focused on the theme of ‘Experience NSW’.

As in previous years, the event provided attendees with the opportunity to share insights, hear from industry experts, and gain an understanding of the key drivers for the NSW visitor economy in the year ahead.

Hosted by news presenter for the Seven Network and regional NSW accommodation business owner Edwina Bartholomew, attendees received a Welcome to Country by Aunty Margret Campbell followed by a message from the NSW Minister for Jobs and Tourism John Graham.

While discussions included the rising number of tourists from Southeast Asia and India, as well as the roles that Western Sydney Airport and Newcastle Airport will play in the future, the dominant theme of the forum was ‘experience-led tourism’ as a critical factor in NSW's economic growth.

Keynote speeches were given by Destination NSW Chief Executive, Steve Cox, alongside former Lonely Planet Executive Director and Chief Technology Officer, Gus Balbontin who discussed ‘Adapting to a new world of experiences’, plus a visitor economy trend report by Fiftyfive5's Klara de Wit and Victoria Loutas.

Advising of NSW’s impressive post-COVID growth figures, Cox stated “NSW is celebrating another record-breaking year for its visitor economy, with total visitor expenditure reaching a new high of $52.9 billion.

“To keep this momentum going, our state’s diverse range of experiences will be central to driving further visitor economy growth and acceleration.”

Keynote speaker Balbontin advised “giving your customers an experience they will never forget is a certain way to drive innovation in your business and stay relevant. The pursuit will inevitably deliver uniqueness, authenticity, surprise and delight.

“Customers’ needs and expectations are continuously shifting - if you invest in your adaptability and embrace novelty your ability to delight the customer with unforgettable experiences increases."

Two feature panel sessions were also held on ‘Building our visitor economy workforce’ and ‘Cutting Through the Clutter: Storytelling in the Digital Age’.

Following the keynote speeches and panel sessions, attendees had the opportunity to select two deep dive sessions, exploring specific growth opportunities for local visitor economies. Topics included:

International market insights: North Asia, South East Asia, India and Western
Connecting Markets through culture
Leveraging world-class events
The high-yield opportunity: business events and corporate travel

The Potential of India
Breakout sessions highlighted the significance of inbound markets from Southeast Asia and India, delving into the experiences visitors from these regions are seeking with the growth potential in the Indian market being especially striking.

India is the fastest-growing outbound market, with up to 100 million travellers, including families, honeymooners, and tourists seeking unique experiences.

Social media plays a significant role in shaping travel decisions, with data in India being remarkably cheap (approximately $5 per month for unlimited data). As a result, 50% of these travellers spend up to seven hours a day on social media, fuelling platforms like ‘Klook’ – a social media-based marketplace, which has seen substantial growth in recent years, driven by 20,000 content creators who share stories aimed primarily at the Gen Z and millennial markets.

Connecting Markets through Culture
Another key breakout session featured a panel discussion on cultural tourism, which included Victoria Moxey from the Office of the 24-Hour Economy Commissioner.

Moxey, the Director of Programs, highlighted her team's efforts to create a vibrant, diverse, and safe 24-hour economy for Sydney and NSW.

Other important case studies in the session included how the Art Gallery of New South Wales is increasing its focus on ‘storytelling’ by introducing enriching experiences and storytelling initiatives. One example is the gallery's ‘First Nations First’ initiative, which offers daily free tours led by Aboriginal curators.

Storytelling in the Digital Age
The event concluded with a panel session ‘Cutting Through the Clutter: Storytelling in the Digital Age’ during which panellists addressed the challenge of navigating the overwhelming volume of communication in today's world and underscored the power of storytelling as a tool to break through the noise.

Cam D’Arcy of Brightworks Video Production Services explained how brands must become master storytellers to capture attention and forge meaningful connections with audiences.

Ankita Shetty, Creative Strategist at TikTok, meanwhile, explained how TikTok is all about community, connection, and sharing stories.

Despite some 8 million Australian users a month, the platform focuses on ‘niches’, where enthusiasts - from fitness fanatics to rollercoaster junkies - can share their stories.

About the Forum
The 2024 Visitor Economy Forum, the third of its kind, was free to attend and open to all visitor economy stakeholders including operators, trade partners, industry representatives and government colleagues.

Destination NSW partnered with EarthCheck and the ICC Sydney to ensure the forum operated sustainably and certified as an EarthCheck Responsible Event.

Images: Destination NSW Chief Executive Steve Cox addresses the Forum (top) and Lonely Planet Executive Director and Chief Technology Officer, Gus Balbontin addresses the delegates (below). Credit: Destination NSW.

About the author

James Croll

With a background in adventure tourism, events management and marketing, James Croll is a regular contributor to Australasian Leisure Management and Asian Leisure Business.

Click here to view his LinkedIn profile.