Minister for Trade, Tourism and Investment Dan Tehan said the business events sector contributed $36 billion to the Australian economy before COVID-19.
Sydney, Australia – Tourism Australia’s specialist business events unit, Business Events Australia, has today made a series of announcements to further bolster the Australian business events sector and drive demand for future business through continued funding for the Bid Fund Program and Boost Program, as well as releasing a new video series showcasing Australian innovation.
Federal Minister for Trade, Tourism and Investment Dan Tehan said the business events sector contributed $36 billion to the Australian economy before COVID-19.
“Since its launch in 2018, the Business Events Bid Fund Program has helped attract 40 international events to Australia worth approximately $411 million in economic value,” Mr Tehan said.
“Because Australia’s economic and health response to COVID-19 has been among the best in the world, Australia is well placed to attract more international events when travel resumes. As part of our plan, we will also showcase Australian innovation to event planners in North America, United Kingdom and Europe to secure more international events.
“Our additional support to attract international business events to Australia complements our $50 million Business Events Grants Program that supports local businesses to attend local business events, conventions, trade shows and conferences and the $1.2 billion aviation and tourism support package designed to turbocharge domestic tourism spending.
“The people who attend business events also book hotel rooms, they eat at restaurants, buy coffees, visit shops and stay to enjoy our tourist attractions, so this support is great news for businesses and communities.”
Bid Fund Program extended another year following grant of A$3 million
Tourism Australia has announced a further commitment to the Bid Fund Program with an additional $3 million to cover new pledges and confirmed bids for an additional 12 months through FY21/22.
The Bid Fund Program is designed to increase the conversion of bids for new international business events by offering financial support at the critical bidding stage. Since the program launched in 2018, 40 events have been won worth approximately $411 million in economic value to Australia, representing a conversion rate of 58 percent.
Tourism Australia Managing Director Phillipa Harrison said “With COVID-19 restrictions lifting and consumer confidence rising, this program will continue to assist those bidding against international competitors for events and continue to position Australia as a leading business events destination.”
Tourism Australia encourages interested parties to visit and apply through the Business Events Australia website. Applications are currently open and close on 30 June 2022.
Business Events Boost Program extended with A$1 million in funding through FY 21/22
Tourism Australia has announced a further A$1 million in funding for the Business Events Boost Program.
Tourism Australia’s Business Events Boost Program, launched in June 2020, will continue to provide Australia’s business events industry with the opportunity to access funding support to deliver industry-led projects that will help win domestic business events across FY21/22.
“Given the positive feedback that we’ve received from the industry about the Business Events Boost Program, we felt it was essential to provide additional funding so that industry can continue to access support while demand for domestic business events increases,” Ms Harrison said.
Applications will open on 3 May 2021 for projects and activities taking place before 30 June 2022. Applicants will need to apply before the upcoming deadline of 30 June 2021, with applications taken through the Business Events Australia website.
Further information on the Bid Fund and the Business Events Boost Programs, including details on eligibility criteria, can be found on the Business Events Australia website.
Australia Innovates video series launched to demonstrate Australia’s wide-ranging expertise
The latest installment of Business Events Australia’s Australia Innovates content initiative has been launched as a video series as part of a broader recovery strategy to position Australia as a leading business events destination.
The documentary-style video series showcases six Australians pursuing world-first research, discovery, invention, innovation and intervention across several knowledge sectors including artificial intelligence, health, nanotechnology, environmental restoration and advanced manufacturing.
“Our Australia Innovates videos series highlights Australia’s expertise across a wide range of fields, positioning us as a world-leading association meetings destination where delegates can experience innovation firsthand,” Ms Harrison said.
Originally developed as a print magazine, the new Australia Innovates video series is available on the Business Events Australia website and will be promoted to association customers in North America, United Kingdom and Europe through targeted marketing activity across business events publications and social media.