Tourism Australia has attracted more than $1 billion in international meetings, conferences, incentives and events since launching its Business Events Bid Fund Program in 2018. But there’s still much to do to reach full recovery.
Tourism Research Australia (TRA) data shows the lucrative international business events sector contributed more than $4 million to the Australian economy in 2024.
However, there’s still more to do. International Business Events total expenditure for the year ending September 2024 is close to 2019 levels (94%) – at $4.3 billion.
TRA data shows international business arrivals are at 76 per cent (compared to 2019 levels). Tourism & Trade Minister Don Farrell said the MICE sector was hit hard by the pandemic but its recovery is strong.
“The Bid Fund Program is helping Aussie businesses to attract first-class events, which are a boon for the economy,” he said
Staging business events has many benefits for the economy, from the impacts of hosting to bleisure trips where domestic and international visitors stay on to experience Australia, including major sporting and entertainment events.
Australia competes globally to secure a MICE pipeline with the Bid Fund contributing a competitive edge on the world stage to win more than 164 international events.
Tourism Australia Managing Director Phillipa Harrison said: “Since 2018, our Bid Fund Program has played a crucial role in helping Australia to secure 164 new international business events.”
“We are so pleased the Bid Fund has now helped to attract $1 billion worth of international business events and continues to secure events out to 2029.”
For more info, head to businessevents.australia.com
