The launch of the ‘Business Events Industry Support’ package by the NSW Government will play a significant role in firing up business confidence.
It also will stimulate conversion of pent-up demand for in-person engagement, according to the State’s global bidding specialists BESydney.
From 6 April 2021, $5.5 million in funding will be made available to support business events, conferences and conventions across Greater Sydney and NSW, as part of a major COVID-19 response package designed to encourage people back into the Sydney CBD in particular, and support jobs in the accommodation, entertainment, and tourism and business event sectors.
Minister for Jobs, Investment, Tourism and Western Sydney Stuart Ayres said that supporting the business events industry was vital as NSW continued its economic recovery. “Our success in containing COVID-19 means we can now focus on assisting these vital industries get back to business. This package will ensure Sydney’s world-class hotels, venues and facilities get the support they need to rebuild and thrive as they welcome increasing numbers of business visitors through their doors.
“Now is the time for businesses to come back together, to get out of hibernation and collaborate,” said Minister Ayres.
BESydney CEO Lyn Lewis-Smith said the funding announcement was a great outcome for the business events industry in NSW which has the lion’s share of the events market and could therefore have the biggest impact in restarting the economy, as we build back.
Ms. Lewis-Smith added: “This funding will provide a vital kickstart for our industry. The need and appetite for companies to reconnect and get back to business is clear. The funding program will provide the confidence for businesses to now confirm their in-person meetings.”
Meanwhile BESydney is still winning international meetings and the forward pipeline of confirmed business is very strong, with an estimated $425 million generated for the local economy for events to be held through to 2026.
BESydney’s funding package continues its industry support initiatives, alongside the ‘It’s got to be Sydney’ campaign which launched last year to promote the domestic business events market, and provide a suite of resources for decision-makers and event planners when booking in Sydney.
Full funding program details will be released by BESydney on 6 April on www.meetinsydney.com.au.