Attracting business events to create new jobs
A dedicated fund to attract more global conferences, conventions and exhibitions to Australia to grow our record breaking tourism industry has been established by the Turnbull Coalition Government.
The Boosting Business Events Bid Fund program, Australia's first federal government-funded business events bid fund, will offer financial support to help secure events that will bring economic benefits to Australia.
The funds will go towards covering costs associated with the delivery of an event within Australia, ensuring every dollar goes back into the Australian economy and supports local jobs through accommodation bookings, transport venues and more.
The program, to be managed by Tourism Australia through its Business Events Australia unit, will make $12 million available over three years to secure more business events and grow this lucrative sector, currently estimated to be worth $14 billion and $28 billion to the Australian economy.
Business event visitors spend, on average, twice as much as those visiting for leisure and they often extend their stay to regional parts of Australia and are likely to return for a holiday in the future.
Australia's natural beauty, safety and stability and friendliness provides the perfect base to build a thriving business events sector.
Research by Tourism Australia shows a high number of people aspire to visit Australia but don't book a trip. Hosting more conferences, conventions and exhibitions will help convert people from aspiring to actually visiting Australia.
Attracting more visitors to Australia will drive economic growth and help create new jobs. More visitors mean more spending, which is what our tourism businesses need to grow, expand and employ more people.
The Boosting Business Events Bid Fund builds upon Tourism Australia's extensive activities in the business events space to increase awareness and demand for Australia as a business events destination.
Applications for the Program will open on 1 May, with access to funds for successful applicants available from 1 July 2018.