STATE BUDGET PROVIDES FUNDING FOR BUSINESS EVENTS BUT A LONG-TERM VISION IS NEEDED

Business Events Victoria

Business Events Victoria was pleased with Tuesday’s Victorian State Budget hand down with $7.5 million allocated over two years to support business events to Victoria. 

This includes funding to operate Business Events Victoria, Melbourne Convention Bureau and the Business Events Fund. In addition, separate support was provided for Nyaal Banyul Geelong Convention and Event Centre, with $7.5 million allocated over two years to this game changing asset in regional Victoria, due to open in July 2026. 

Business Events Victoria General Manager Chris Porter said the funding commitment provides a fantastic opportunity to continue to drive the successful Regional Victoria Business Events Program for the next 12 months. 

“Regional business events play a critical role in supporting regional economies especially during shoulder and mid-week periods,” he said. “In what is a very competitive landscape, with regional Victoria competing nationally against other regional destinations and capital cities like Adelaide and Hobart, this funding provides support to continue to profile our great state to these high value visitors. “With Nyaal Banyul opening next year, this additional funding will ensure the opportunity is maximised for Geelong, with a halo effect benefiting all of Victoria, continuing to profile all of regional Victoria as a business events destination.” 

While this broad support for the business sector is welcomed, a longer-term commitment to business events is required. Business Events Victoria is calling for a minimum of four years of funding, the development of a statewide Business Events Strategy and investment in contemporary business events research. 

“With business events being planned two, three or four plus years in advance, a longer-term commitment and robust state-wide strategy is required to support the successful acquisition of business events to Victoria,” Mr Porter said.

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