Australia, 15th March: The Australian government has established a new programme, the Boosting Business Events Bid Fund with initial financing of A$12 million (US$9.4 million). The fund is designed to attract more global conferences, conventions and exhibitions to Australia over the next three years.
The program will be managed by Tourism Australia through its Business Events Australia unit. It is Australia’s first federal government-funded business events bidding fund and it will be tasked with providing financial support to help secure events in across Australia. The fund will begin accepting applications on 1st May.
According to the Australia Minister for Trade, Tourism and Investment, business event visitors spend twice as much as leisure visitor. In addition, business event visitors often extend their stay and travel to other parts of Australia.
Exhibition & Event Association of Australasia’s (EEAA) Chief Executive, Joyce DiMascio, commented, “This is a step in the right direction and will help boost Australia’s capacity to attract events to Australia. It will position Tourism Australia’s Business Events team as important boosters of Australia’s international competitiveness in the face of growing competition from the Asia-Pacific region.”