The value of business events secured with the help of Tourism Australia’s Business Events Bid Fund (BFP) has almost doubled in the past three months to reach a new milestone of $187 million.
Tourism Australia managing director John O’Sullivan said the results demonstrated the fund’s effectiveness in improving Australia’s competitiveness in the global business events market.
“In November 2018 we released the details of the multi-million dollar boost to Australia’s visitor economy delivered to date by the Business Events Bid Fund Program (BFP),” O’Sullivan said.
“Today I am pleased to confirm that since that time, the total economic value of events secured by BFP has almost doubled, from $97 million to reach $187 million.
“This is a direct result of the combined efforts of the Australian business events industry in securing these events, with the support of funds through the BFP which came into effect in July last year.”
The effectiveness of the BFP is also reflected in the number of applications received from the Australian business events industry, with applications now reaching 79 since the program’s launch. The majority of applications continue to be for international health and direct selling business events.