Business Events Australia will receive more funding for its Bid Fund Program, as well as release a new video series showcasing Australian innovation, in a move to drive demand for future international business.
Tourism Australia has voiced its commitment to the Bid Fund Program, and will provide an additional A$3 million (US$2.3 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 programme launched in 2018, 40 events have been won worth approximately A$411 million in economic value to Australia, representing a conversion rate of 58 per cent.
Tourism Australia’s managing director Phillipa Harrison said: â€śWith Covid-19 restrictions lifting and consumer confidence rising, this programme will continue to assist those bidding against international competitors for events and continue to position Australia as a leading business events destination.â€ť
Tourism Australia encourages interested parties to visit and apply through the Business Events Australia website. Applications are currently open and close on June 30, 2022.
Meanwhile, the latest instalment of Business Events Australiaâ€™s Australia Innovates content initiative has been launched as a video series, showcasing innovation throughout Australia that continues to transform industries and deliver world-firsts.
The documentary-style video series is available on the Business Events website and showcases six Australians pursuing research, discovery, invention, innovation and intervention across several knowledge sectors including artificial intelligence, health, nanotechnology, environmental restoration and advanced manufacturing.
â€śOur Australia Innovates videos series highlights Australiaâ€™s expertise across a wide range of fields, positioning us as a world-leading association meetings destination where delegates can experience innovation firsthand,â€ť Harrison pointed out.
In addition, Australia’s federal minister for trade, tourism and investment Dan Tehan said the business events sector contributed A$36 billion to the Australian economy before Covid-19.
â€śBecause Australiaâ€™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 US, UK and Europe to secure more international events.
â€śOur additional support to attract international business events to Australia complements our A$50 million Business Events Grants Program that supports local businesses to attend local business events, conventions, tradeshows and conferences and the A$1.2 billion aviation and tourism support package designed to turbocharge domestic tourism spending.”