$50 million injection to restart Australia's business events
- 11 September 2020
Grants ranging from $10,000 to $250,000 will be available to approved business events, including meetings, incentives, conventions and exhibitions to cover up to 50 per cent of event costs.
This initiative is part of the Australian Government’s $1 billion COVID-19 Relief and Recovery Fund, which supports sectors severely affected by the COVID-19 pandemic.
The Business Events Council of Australia (BECA) will be the industry lead, working with Government on the design and implementation of the Program, and aims to “get money flowing throughout the supply chain as soon as possible.” It is hoped that this Program will allow the industry to move to the next phase of recovery and rebound, providing businesses with the confidence to plan and book their next business event.
The national business events sector generated over $36 billion in economic activity in 2018-19 and employs over 229,000 people.
The Federal Tourism Minister Simon Birmingham said the sector had been hit hard during the COVID-19 pandemic with around 95 per cent of business events for 2020 either cancelled or postponed.
Tourism NT welcomes this positive announcement for the business events sector.