May 21, 2021 | By Bronwen Largier

The Victorian Government has committed $42.913 million to supporting business events activity in the state over four years in its state budget announced yesterday.

micenet understand this is an increase on the commitment made in previous budgets both in terms of dollar value and longevity of the funding.

The funding is set to be shared between Melbourne Convention Bureau (MCB) and Business Events Victoria which supports regional business events.

MCB has welcomed the announcement.

“This commitment recognises the essential role business events play in the Victorian visitor economy, and their contribution to innovation, job creation, trade and investment opportunities, for the benefit of the whole community,” said MCB Chief Executive Officer Julia Swanson.

“The business events sector has been one of the hardest hit by the COVID-19 pandemic and these measures not only support the business events sector now, they also ensure we can sustain and grow the sector for the future.”

According to MCB’s statement, the investment will “also boost MCB’s presence in the national business event space and allows for a greater focus targeting short lead-time business events”.

Even with Australia’s international borders closed, MCB has secured international events up to 2028. The bureau also has $547 million worth of bids in play at the moment, representing 254,000 potential room nights in the state.