The head of Business Events Australia (BEA) has pointed to Asia as the best way for Australian businesses to get ahead amid the ongoing difficult economic conditions.
As the financial crisis continues to rock global markets, BEA general manager, Penny Lion said businesses were being "challenged" to diversify their operations to remain competitive.
And with the year ahead likely to prove difficult for some businesses, Lion said Asian markets could be the ticket to success for many companies in 2012.
"There are exciting opportunities especially in the Asian markets whose economies are growing at rapid pace," she told The Nibbler. "The markets on our doorstep have a strong interest in Australia as a destination and the industry can benefit from further developing positive business with these countries."
However, with Asian markets unique to any other, Lion stressed that a ‘one-size fits all’ approach wasn’t likely to deliver success.
"To ensure success in these markets, Australian industry needs to tailor their approach to meet clients’ needs, which differ from other markets both within and beyond Asia," she said.
Lion said unique Australian experiences had so far proven popular among Asian markets, but stressed there was added pressure to prove the cost effectiveness of all meetings and events.
"A major change for the industry will be an increased pressure to produce additional quality and creative experiences that demonstrate value for money," she said. "That being said, we are a resilient industry and Australia is prepared for such business challenges."
