VCEC Records its Best Year Ever

Vancouver, BC (May 24, 2007) – Revenue at the Vancouver Convention & Exhibition Centre (VCEC) exceeded $19 million in the fiscal year ending March 31, 2007 and provided an estimated $242 million in overall economic impact.

“The VCEC recorded a 25% increase over last fiscal year,” said Barbara Maple, VCEC President. “In total, we brought in about 174,000 non-resident delegate days – up more than 34,000 from last year. This is great news for our industry and for the province, and also bodes well for the business prospects of the VCEC expansion currently in development.”

Non-resident delegate days are the number of days that delegates visiting from outside of British Columbia spend at VCEC events. According to recent research by Conventions BC, non-resident delegates to BC have four times more economic impact than leisure visitors because their expense levels are higher. In addition, they generate both personal and related exhibitor and event production sales.

“Out of the 348 events that we hosted throughout the year, some were very high profile international events including the World Urban Forum in June, which hosted 10,000 delegates from 150 different countries and generated almost 18 million dollars in non-resident delegate spending,” added Maple. She continued: “With our expansion and the 2010 Olympic and Paralympic Games only two and three years away, we are committed to keeping up the momentum as international awareness for our city and province continues to grow.”

Other highlights throughout the year included the VCEC’s record-breaking month of last February. In only 11 days, four consecutive events generated more activity and food and beverage revenue for the local economy than the facility’s highest month on record.

Contracted or confirmed business for the convention centre has 54 events scheduled for the period starting April 1, 2009 and beyond. 29 of those events are expansion bookings that wouldn’t have been able to fit into the existing facility. Together, these 54 events represent 738,624 non-resident delegate days with a total economic impact of $1.1 billion.

“These kinds of business results reinforce the growing importance of the conventions industry to British Columbia, and demonstrate that the province’s investment in the VCEC’s expansion will pay off,” said the Honourable Stan Hagen, Minister of Tourism, Sport and the Arts.

Hagen added: “Expansion will enable us to grow the size and quality of BC’s convention business and take advantage of the global exposure we will receive from events like the 2010 Olympic & Paralympic Games.”

About the VCEC
Since opening in 1987, the Vancouver Convention & Exhibition Centre has been British Columbia’s flagship convention facility. In fiscal year 2007, the VCEC hosted 350 events and 745,000 delegate days, and generated more than $240 million in economic impact for the province of B.C. When its major expansion completes, the VCEC will offer a combined total of nearly 500,000 square feet of function space and will serve as the international media and broadcast centre for the Olympic and Paralympic Winter Games in 2010.

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