Business Events Sydney (BESydney), the organisation responsible for bringing major corporate events to Australia’s largest city, has welcomed a decision to provide it with AU$6 million (US$4.7m) of extra funding.
The additional funds will be injected by the New South Wales government over the next four years.
The announcement comes off the back of last week’s commitment by the state government to provide an additional AU$123.4m to boost NSW’s MICE sector – a 25% increase on its previous allocation.
“We’re proud to contribute to NSW and will definitely play our part in realising the government’s vision of making Sydney the number one destination for major events in the country,” said BESydney’s CEO, Lyn Lewis-Smith.
“This commitment demonstrates that NSW understands how economies and communities can benefit from the high-yield business and tourism opportunities from hosting meetings and conferences.”
In 2014, business events contributed more than AU$224m to the NSW economy. And this is expected to grow in the coming years, as Sydney redevelops its International Convention Centre.