Confirmed by Tourism Australia at industry trade show IMEX Frankfurt, taking place this week, the Bid Fund is now accepting applications for financial support from international events considering Australia for events held before the end of 2032.
Events requesting support must confirm their location by June 30, 2027.
Tourism Australia has confirmed to micenet that more money has been allocated to extend the Bid Fund horizon.
“Tourism Australia values the positive impact of the Business Events Bid Fund Program to drive visitation to Australia and to support the Australian industry to bid on longer lead opportunities,” said Tourism Australia’s managing director, Robin Mack.
“We have made a strategic decision to maintain momentum and extend the Bid Fund Program to support events travelling to Australia out to December 2032.”
Since launching in 2018, the subvention initiative has supported 221 successful bids to bring international conferences, incentives and corporate meetings to Australia. Collectively these events are estimated to be worth $1.5 billion to Australia.
Analysis shows the fund delivers $52 to the Australian economy from every $1 invested.
“The Bid Fund works, and we’re keeping that momentum going,” said Australia’s trade and tourism minister, Don Farrell.
“By extending support for events out to 2032, we’re giving planners the long-term certainty they need to choose Australia for years to come.”
Tourism Australia’s announcement of the extension contained supportive comments from the Australian Business Events Association, which has been lobbying government for both an extension of the fund and more money to support it.
“This extension is a positive step that recognises the long lead times required to win major international events and the opportunity ahead as Australia builds towards Brisbane 2032,” said ABEA CEO, Melissa Brown.
“The Business Events Bid Fund…is a proven, performance-based investment in Australia’s future economic growth that supports Australia’s competitiveness as a business events destination on the global stage.
“The value of this fund reaches far beyond the event itself. Every international business event won for Australia supports local businesses, venues, suppliers, hotels, universities, corporates, delegates and governments, while driving trade, investment, knowledge exchange and productivity across the broader community and economy.
“We look forward to continuing to work with government and Tourism Australia to ensure Australia remains an attractive and desirable destination for business events, for when we are, the entire community benefits.”
