The Australian Business Events sector, worth more than $13b a year to the economy, received a major boost on Thursday when the Federal Government entered into a formal partnership to assist the industry during the bidding and event delivery process.
The Minister for Trade and Investment, the Hon Andrew Robb AO MP, recognised international business events as an integral part of the government’s economic diplomacy agenda and announced the historic new framework – Attracting Business Events to Australia: Role of Government Agencies, at the Australian Export Awards in Sydney.
The framework delivers on the Coalition’s pre-election commitment to support key international business events and strategically aligns the Federal Government, through Austrade and Tourism Australia, to work with Australian convention bureaux and the business events sector to attract world-class events to our shores.
AACB President Lyn Lewis-Smith welcomed the collaboration as a recognition of the importance of business events to the economy.
“This is a ground breaking win for the sector. International business events offer high yield benefits beyond the event that drive prosperity for Australia and contribute to the visitor and knowledge economies.
“With the growth potential of Asian markets, Government support and involvement is essential to ensure Australian convention bureaux are in the best-possible position to identify, bid for and win business events that align with the national priority areas and better connect industry, academia, government and the private sector.”
AACB Executive Director Andrew Hiebl said, “This is a great win for the industry. AACB member bureaux represent more than 1600 operators across the business events spectrum.
“I’m very proud of the leadership and direct consultation AACB has played in helping secure this new framework. It will help facilitate more international conventions and exhibitions to Australia, having a direct effect on the broader business events industry.”
The Deloitte Access Economics report, Australia’s International Business Events: The Economic and Strategic Value Proposition, underscores the importance of the international business events sector and has resulted in stronger confidence and support from government.
The business events sector is expected to reach more than $16 billion per year by 2020. High yielding business events are integral in helping Australia reach tourism 2020 targets. Benefits of winning and hosting international business events are felt long after the last delegate leaves the country, resulting in greater economic prosperity for Australia.