The government of Western Australia has decided to retract the proposed cuts in state funding for the Perth Convention Bureau (PCB).
The move comes on the back of lobbying efforts by business events stakeholders in opposition to tightened funding announced in the state budget, which would have seen funding for PCB slashed by up to 30 per cent over the next three years (2017-19).
In addition, opposition party Western Australian Labor Party had in March jumped in to pledge an investment for the conventions promotion body, which works out to an estimated 60 per cent increase in funds.
Welcoming the state government’s decision, PCB CEO, Paul Beeson, said: “We are grateful to the premier and state government for the reinstatement of this funding, particularly given the fiscally tight environment in which the government currently sits.
“It’s an important acknowledgement of the high return on investment PCB offers and recognition of the role of business tourism in the economy and fabric of our state.”
Elaborating on the “high ROI”, PCB estimated that it generates a return of over 30 times the amount invested by the state, far exceeding that seen in competing destinations such as Bureaux in the east coast.
Further entrenching the importance of the business events sector to Perth, PCB stated that conference delegates spend over five times more than leisure tourists.
Beeson concluded: “In the context of our state’s increasing reliance on the visitor economy and the expanding venue and accommodation stock, any cuts to such a successful organisation and industry are illogical.”
