Events with at least 150 delegates staying three or more nights in the region, which includes Cairns, Palm Cove and Port Douglas, are eligible for subvention funding which ranges from $10,000 to $50,000 per event.
Both national and international events held by June 30, 2029 are eligible for funding.
“We’re thrilled our funding partners have recognised the significant value of the business events sector and have supported this strategic investment to drive visitation and economic growth,” said Tourism Tropical North Queensland’s (TTNQ) general manager of partnerships and events, Tara Bennett.
The new event support program has 30 per cent more funding than the previous program, which also ran for four years.
And where the previous iteration of the bureau’s fund had parameters which meant events held during the region’s peak season from June to October could not receive support, this is no longer the case, with funding to be available for events all year round, with a focus on return on investment.
In practice, this means events during the peak season with a high economic impact – larger groups staying more nights – now qualify for funding.
The new funding has been established with a minimum 40:1 ratio for return on investment – meaning for every dollar invested by the bureau, there’s a $40 return to the region. Bennett told micenet that based on events that the bureau has supported in the past, the ROI target is realistic.
More broadly, taking into account learnings from the previous program, Business Events Cairns and Great Barrier Reef’s new event support initiative will be able to support more events and maximise the economic impact of each supported event.
Through the program, site inspections for qualified events will be supported by the bureau both financially and with on-the-ground guidance from the bureau, which it says is highly valued by PCOs.
Bennett told micenet that supporting site inspections is a significant conversion opportunity for the bureau, as first-hand experience of the destination plays a considerable role in winning the event for the destination.
