AACB submits recommendations to help boost business events
The policy proposals are contained in the 2017-18 Pre-Budget Submission of the AACB and include the recommendation to invest in a national convention bid fund of up to $10 million per year and to grant international delegates access to the fee-free online Electronic Travel Authority visa scheme.
AACB CEO Andrew Hiebl said while Australia has secured 360 international business events for the years ahead, many bids have been unsuccessful.
“Over the course of the next decade, Australia has missed out on 235 bids, with the estimated lost business of this being $805 million in direct delegate expenditure,” he said.
“Major reasons for this lost business include superior financial packages being offered by other nations and the high overall cost of hosting a business event in Australia.
“Given one in five dollars spent by international visitors in Australia is spent by an international visitor attending a business event, our sector represents a tremendous growth opportunity – for tourism and for the economy more broadly, as it transitions away from the resources boom.”
Recommendations in the AACB’s Pre-Budget Submission also include a dedicated $10 million business events marketing campaign to more effectively promote Australia as a knowledge economy.
“The business events industry is certain that if these policy proposals were to be adopted and implemented, there would be a high rate of return on this investment,” said Hiebl.