Tourism Australia launches new $12m national bid fund
The announcement was made today by Minister for Trade, Tourism and Investment Steven Ciobo at Tourism Australia’s Destination Australia Conference in Melbourne.
Administered by Tourism Australia, the national bid fund will make $12 million available over the next three years to support bids for new, high-value international incentive, association, and exhibition events.
“In the increasingly competitive global world of business events, we recognise that more needs to be done to ensure that Australia maintains a competitive edge against other international destinations,” said Ciobo.
“We will help provide Australia with a competitive advantage when bidding to secure new high-value international business events through the establishment of Australia’s first ever federal government-funded business events bid fund.
“The Program will offer financial support at the crucial bidding stage for international corporate incentive trips, exhibitions, association conferences and congresses.
“Importantly, the funds will go towards covering costs associated with the delivery of an event within Australia, ensuring every dollar goes back into the Australian economy and supports local jobs through accommodation bookings, transport, venues and more.”
John O’Sullivan, managing director Tourism Australia, said that being able to offer financial incentives to help convert bids of national significance into confirmed business would allow Australia to compete more aggressively with the many destinations that already operated national bid funds.
“Australia risks losing market share to our competitors if our business events industry is not able to compete on a level playing field,” he said. “That’s why the new Tourism Australia Business Events Bid Fund Program is a game-changer, allowing us to grow our competitive advantage in this critical and lucrative segment of the visitor economy.”
The program will be managed by Tourism Australia’s business events unit, Business Events Australia, with funds only provided for qualified international business events once the event is confirmed and contracted for Australia.
Penny Lion, executive general manager events Tourism Australia said the bid fund provides yet another reason for international business events decision makers to choose Australia.
“It will deliver increased consideration for our country and provide new opportunities for our industry,” she said.
A prospectus for the new bid program is available online at www.australia.com/businessevents.
Applications for the new Tourism Australia Business Events Bid Fund can be submitted via www.australia.com/businessevents from May 1, with access to the funds for successful applications available from July 1.