The Association of Australian Convention Bureaux (AACB) has welcomed government plans to extend support to the country's business events industry through a boost to the Export Market Development Grant (EMDG) scheme.
The federal government will inject an extra AUS$49.8m into the EMDG scheme in the 2019-20 financial year. This is in addition to the AUS$60m already committed as an election pledge, bringing funding to $207.7 million for 2019-20.
The EMDG scheme:
- encourages small- and medium-sized Australian businesses to develop export markets
- reimburses up to 50 per cent of eligible export promotion expenses above $5,000 provided that the total expenses are at least $15,000
- provides up to eight grants to each eligible applicant.
AACB CEO Andrew Hiebl said: “With a majority of our members eligible as Approved Bodies under the scheme, today’s announcement by Minister Birmingham provides a shot in the arm for convention bureaux around the country whose role it is to attract international business events to Australia through marketing and bidding activities.”
The AACB has been urging minister to boost investment in successful federal grant programmes, such as EMDG, as a means of supporting convention bureaux to reach international markets and attract high-spending visitors.
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Andrew Hiebl[/caption]
“This additional assistance provides certainty during tough times through an otherwise oversubscribed program, meaning that expected entitlements will be paid in full. Eligible convention bureaux will be able to position these funds to recovery efforts in what will be a highly competitive post COVID-19 world,” added Heibl.
“It is positive to see federal and state governments recognising that the business events industry is vital to rebuilding Australia’s visitor and knowledge economies."
The government also confirmed that grant applications lodged in the 2020-21 financial year can claim expenses that have been affected by COVID-19, such as trade show cancellations. These activities will be treated as having taken place.
The welcome news comes after trade body Business Events Council Australia warned that the cancellation of business events due to the coronavirus pandemic was wiping AUS$2.5bn off the economy every month.
Written By
James Lancaster
AMI editor James
Lancaster is a familiar face in the meetings industry and international
association community. Since joining AMI in 2010, he has gained a reputation
for asking difficult questions and getting lost in convention centres. Proofer, podcaster, and panellist - in his spare time, James likes to walk,
read, listen to music, and drink beer.
