A new business events bid fund will help the Adelaide Convention Centre attract more top-level conferences with flow on benefits for the broader visitor economy, according to peak national industry body Tourism & Transport Forum (TTF).
The South Australian government will provide an additional $2 million over two years for an Adelaide Convention Centre bid fund.
TTF Chief Executive Ken Morrison said this is great news for the state’s visitor economy.
“Congratulations to the government for backing in a high-yield visitor segment to grow the state’s economy,” Mr Morrison said.
“Adelaide Convention Centre’s $350-million upgrade will be further supported by this expanded bid fund helping the city capitalise on these world class facilities.
“This is a smart investment by government as funds are only expended when the state secures the event, ensuring a guaranteed return on investment.
“Business events attract high-yield travellers who often bring family and friends, stay a few extra days and explore regional destinations.
“Conferences and top-level events deliver significant visitor numbers, supporting accommodation businesses, restaurants, transport operators and retail precincts.
“South Australia’s visitor economy supports 18,263 businesses and 33,000 jobs and contributes $5 billion in GSP every year.
“It is encouraging to see the state’s commitment to the industry as it strives to reach its Tourism 2020 goal of increasing visitor expenditure to $8 billion by 2020.
“This fund is a vote of confidence in the sector and will help encourage private investment in hotels, entertainment and major events.
“Today’s announcement is in line with TTF’s 2013-14 South Australian Budget submission recommendation that called for specific funding to attract and incentivise business event bids.
“We welcome the decision for the South Australian Tourism Commission to hold the fund which has been reserved only to attract events to the Adelaide Convention Centre.”