The Government of Western Australia has handed down its 2022-23 State Budget, announcing an increase of $31 million in funding for tourism events. This includes $20 million for a new Major Events Fund of which $5 million has been allocated for hosting business events.
This funding is additional to the $15 million Reconnect WA package announced in December 2021.
The boost in funding comes at a pivotal time for Western Australia’s business events industry, which is poised to experience a significant period of growth and recovery following the reopening of the WA border and a renewed appetite for travel from business event delegates.
Business Events Perth Chair Bradley Woods said the additional funding recognized the important role that business events played in strengthening and diversifying the State’s economy and the support that was needed to revive the sector after a significant disruption.
“The impact of COVID-19 on the business events industry has resulted in a massive hit, in terms of real losses and future business confidence, so this funding boost is well-timed as we continue our efforts to secure lucrative business events to re-energize and rebuild the many venues and small businesses who are still struggling two years into this pandemic,” Mr. Woods said.
Tourism Minister Roger Cook said the increased funding would maximize opportunities for the State, securing lucrative business events not just for their tourism impact, but also as a platform for economic diversification, presenting an opportunity to promote Western Australian expertise to the world.
“We have been spruiking the message around Australia and to the rest of the world that WA is open for business and open for tourism,” Mr. Cook said.
“This is the next stage in turbo-charging WA’s economic transition after the successful management of COVID-19 for more than two years.”
“Business events bring business travelers to the State, promoting our diverse priority sectors and generating a direct economic return for local businesses.”
“A revived program of business events will help to create an economic legacy beyond the value of initial tourism expenditure – helping us build towards a bigger, better Western Australia.”
To find out more about the funding boost, see here.