The EMDG scheme is a key Australian Government financial assistance program through Austrade that supports the export of a wide range of industry sectors and products, including inbound tourism and the export of intellectual property and know-how outside Australia.
The objectives of the review examine the effectiveness of the scheme and options for improved performance and funding scheme administration costs.
“EMDG funding is an important program for many Australian convention bureaux and regional tourism and economic development bodies,” said AACB Executive Director Andrew Hiebl.
The grant provides financial assistance to Approved Bodies within the scheme to attract business to Australia and encourage export opportunities for Australian businesses.
“International marketing is a fundamental role that convention bureaux play to attract new business events to their destinations. Improvements in grant funding for international marketing activity directly benefits more than 1600 convention bureaux stakeholders across the country and the broader business events industry,” said Hiebl.
AACB advocates for improved processing and assessment of eligible international marketing activities and programs by reducing red tape and complexities within the scheme for Approved Bodies.
Hiebl continued, “Around the world, international business events are being used as strategic tools for attracting trade, investment and global talent. The EMDG scheme recognises the business events industry and helps Australian convention bureaux continue to drive the high yielding and long term benefits accruing in the sector.”
The sector also augments economic activity well beyond the directly measurable metrics, underpinning knowledge creation and exchange, innovation, investment and trade among other positive impacts.