The Federal Government has extended support to the business events industry via a boost to the Export Market Development Grant (EMDG) scheme.
The Government will inject an extra $49.8 million into the EMDG scheme in the 2019-20 financial year. This is in addition to the $60 million already committed as an election pledge, bringing funding to its highest level in more than 20 years to $207.7 million for 2019-20.
The news was welcomed by the Association of Australian Convention Bureaux (AACB), calling it “a shot in the arm for convention bureaux around the country”.
“This additional assistance provides certainty during tough times through an otherwise oversubscribed program, meaning that expected entitlements will be paid in full,” said AACB CEO Andrew Hiebl.
“Eligible convention bureaux will be able to position these funds to recovery efforts in what will be a highly competitive post COVID-19 world.
“It is positive to see federal and state/territory governments recognising that the business events industry is vital to rebuilding Australia’s visitor and knowledge economies.”