Real Action to Create New Jobs and Growth in Business Events tourism

28-July-2010

A Coalition government will commit $28 million in new money for initiatives aimed at reinvigorating Australia’s business events tourism, Member for Farrer, Sussan Ley said today.

The Coalition understands that tourism is a vital part of the Australian economy, employing nearly 500,000 people, accounting for $92 billion in economic activity and generating $24 billion in export earnings.

“But our share of global tourism has fallen and our international competitiveness has slipped,” said Ms Ley.

“The Coalition will also provide an additional $10.5 million for Tourism Australia to boost marketing of Business Events Australia. This is an increase of around 50 per cent on current funding.

“This Coalition initiative represents a great number of opportunities for this electorate; with major centres such as Broken Hill, Albury and Deniliquin, and smaller towns such as Wentworth, already having strong histories in events tourism.

“Tourism has been a strong industry right throughout the Farrer. The electorate also has a significant number of farming and grazing families who derive an alternate income from tourism. This Coalition initiative will be a wonderful opportunity for existing tourism operators to expand their ventures into business events tourism.

The Coalition has recognised that people travelling for business events are some of the most lucrative for the local economies and also produce the highest yield of any travellers for tourism operators. The business events industry currently generates around $17.6 billion each year for the economy and employs more than 116,000 people.

With this in mind, the Coalition will provide an extra $28 million to boost business events tourism and bring our business events marking capacity in line with our international competitors.

This will include a new industry partnership, Business Events Bid and Boost Fund, with a $17.5 million injection from the Commonwealth to provide the business events sector with significant money to support bids for key international conferences and boost delegates attending conferences.

“The Rudd-Gillard Government actually cut funding for Business Events Australia by more than 10 per cent on the eve of the global financial crisis,” said Ms Ley.

“The Coalition aims to reverse that trend and boost the yield earned by Australia’s tourism operators.”

This significant investment will be made over four years.