The incentive trip by Cathay Life Insurance is expected to deliver $12.6 million for the state’s economy.
Brisbane’s bid was led by Brisbane Economic Development Agency (BEDA) in collaboration with Tourism and Events Queensland and Tourism Australia’s Business Events Bid Fund. Brisbane’s proposal won out over several others from Europe and Asia.
“We are very impressed by the culture and natural scenery of Brisbane, and we are looking forward to returning to this beautiful city and exploring it in depth,” said general manager of Cathay Life Insurance Shang-Chi Liu.
“Brisbane’s rich tourism resources help us to develop various itineraries and activities that are unique to us. The support and professionalism provided by Brisbane Economic Development Agency, Tourism and Events Queensland, and Tourism Australia has boosted our confidence in a successful incentive in Brisbane.”
The company, which has around 20 million insurance policies in play in Taiwan, had its first large-scale incentive trip to Australia in 2000. On its most recent Australian outing, 2,300 delegates visited Melbourne in 2018.
BEDA’s CEO, Anthony Ryan, said the agency’s strategy to attract incentive groups from Asia was paying off.
“We’ve seen an influx of global businesses turning to Brisbane to reward their top performers,” he said.
“We look forward to welcoming Cathay Life Insurance Taiwan, and we’re ready to showcase an abundance of new attractions, hotels, dining experiences, and cultural gems across Brisbane, ensuring an unforgettable trip for their delegates.”
Brisbane’s Lord Mayor Adrian Schrinner believes the win reflects the city’s growing appeal for high-yield business events.
“Brisbane is becoming an internationally acclaimed destination,” said Schrinner.
“Come May 2024, the successful delegates will be among the first in the world to experience Queen’s Wharf – Brisbane’s new $3.6 billion world-class entertainment and lifestyle precinct.
“Between our premium event venues, urban adventures, breathtaking natural wonders and quintessential Australian experiences, Brisbane is a compelling destination for international business events.”
Queensland’s tourism minister Stirling Hinchliffe highlighted the significant economic boost business events and corporate travel delivered to the state’s economy.
“Business travel and conferences are a high-value investment in Queensland’s visitor economy with enormous potential for post-pandemic growth and worth $4.5 billion in the last year alone.
“We know when business visitors get to know Queensland’s great lifestyle, they return with family and friends for the iconic holiday experiences our state is famous for.”