Tourism Australia Announces Multimillion-Dollar Bid Fund

March 15, 2018

Australia-Innovates-400Australia’s multibillion-dollar business events industry has received a huge boost with the creation of a national bid fund, making $12 million available over the next three years to support bids for new, high-value international incentive, association and exhibition events.

Tourism Australia already supports the Australian business events industry through its marketing communications and distribution development activities, including the Advance Program which supports delegate acquisition activities for existing international business events taking place in Australia.

From July 1, 2018, Tourism Australia will extend its existing support of the Australian business events industry through the Business Events Bid Fund Program (BFP), which provides assistance to secure new international business events for Australia.

The establishment of the new Tourism Australia Business Events Bid Fund Program was announced by the Federal Minister for Trade, Tourism and Investment, the Honorable Steven Ciobo MP during a keynote address at this year’s Destination Australia Conference in Melbourne.

“Australia’s natural beauty, safety and stability and friendliness provides the perfect base to build a thriving business events sector. I am confident that this new bid fund will help ensure Australia remains top of the pack in terms of consideration for international incentive and association events,” Minister Ciobo said.

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.

Managed by Tourism Australia’s business events unit, Business Events Australia, the program is designed to increase conversion of business for Australia by offering financial support at the critical bidding stage of new international business events. Funds will only be provided for qualified international business events once the event is confirmed and contracted for Australia.

The new bid fund will support expenditure on goods & services that assist in the delivery of events, for example accommodation or venue hire costs.

A prospectus for the new bid program is available online at www.australia.com/businessevents and outlines the mandatory eligibility criteria required to make a submission as well as a checklist and full terms and conditions.

Applications for the new Tourism Australia Business Events Bid Fund can be submitted via www.australia.com/businessevents from May 1, 2018, with access to the funds for successful applications available from July 1, 2018.

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