Australia’s BE industry has rapidly shutdown with the escalation of government responses to COVID-19. The impact of the pandemic is being felt across the Australian economy with 96% of events scheduled for 2020 in Australia either cancelled or postponed. The Australian BE industry is facing a 100% loss of revenue with the total business lost over the next 12 months estimated at over $35.7 billion.
Due to the escalating effects of COVID-19, on top of bushfires earlier this year, BECA is urgently leading a coordinated approach engaging the Government – primarily through Austrade and Tourism Australia – and industry stakeholders to ensure support targets those areas most critical to the industry’s immediate needs, its sustainment and its successful recovery. The COVID-19 Business Events Response and Recovery Framework aim to sustain the business events industry over the next 12 months and position it to rebound and grow effectively following the pandemic.
The framework will identify key challenges and solutions that can guide the development of a targeted BE industry support package. The framework is being developed in line with the Government’s own principles for stimulus and industry support measures and has been divided into two phases.
1. Response:
- Identifies the viability of industry businesses and organisations at immediate risk with no cash-flow or forward pipelines of business events
- Aims to enable the industry to be sustained during the pandemic and to build domestic demand, industry capability and strategy for the future market
- Success is focused on reduced costs on the industry businesses, targeted support to organisations and employees to support viability, training and skills, domestic event pipeline development and Australian governments, businesses and associations incentivised to plan and book events.
2. Recovery (rebound and growth):
Focuses on research, marketing, promotion and facilitation, with key components including:
- Australian Government Bid Fund Program renewal and extension
- International research, marketing and promotion
- Creation of new Trade and Investment Priority Business Events that tap into Australia’s competitive advantages in key growth industries and regional areas
- Visa simplification
- Export Market Development Grant extension and refinement of criteria
- Improved Business Events metrics that enhance the national and international visitor surveys for business events and complement by investing in robust aggregated and segmented data capability