Launceston could reap multi-million-dollar economic benefits if it upgrades or builds new convention facilities, according to a report prepared for Visit Northern Tasmania.
The study by consultants Right Angle outlined three potential scenarios for the northern Tasmanian city: maintaining current facilities, upgrading existing venues, or developing a purpose-built convention centre.
Tourism Industry Council of Tasmania CEO, Amy Hills, said the findings highlight significant opportunities for the region.
“The report shows that there is huge demand for holding conferences and other events in Launceston,” Hills said.
“It’s imperative now that we have a clear strategy to seize on the opportunities and help build on Launceston’s appeal as an event destination.”
The research found that upgrading existing facilities could increase annual events from 20 to 27, generating $19.2 million yearly.
A new purpose-built facility could host 36 events annually with an economic impact of $28.5 million.
Business Events Tasmania CEO Marnie Craig said some improvements to existing facilities would deliver short to medium-term benefits, while a new facility represents a longer-term solution.
“The importance of conferences and business events to the Tasmanian visitor and general economy should not be underestimated,” Craig said.
“They have far-reaching benefits for restaurants, retailers, entertainers and transport.”
The report revealed Launceston has lost business event market share since before the pandemic, citing limitations in venue quality, hotel capacity, flight connections and transport options.
If a new facility were to be developed, researchers recommend it should accommodate 500 to 550 people and align with northern Tasmania’s key industries such as green energy, maritime research and defence manufacturing.
The Tourism Industry Council is now calling on federal politicians from both sides to commit to investing in Northern Tasmanian conference facilities.
