AACB welcomes new business events fund, seeks to reverse decline in global market share

Association of Australian Convention Bureaux (AACB) CEO Andrew Hiebl welcomed (15-Mar-2018) the new AUD12 million (USD9.3 million) three year Business Events Bid Fund Program from Tourism Australia. Mr Hiebl said the timing of this investment is an important step in reversing the decline in Australia's global ranking and market share. According to AACB, in 2016, Australia fell to 16th place in the International Congress and Convention Association's country rankings, with global market share falling to 1.73%, and Australia suffered a 14% decline in the number international bids won in 2017. Mr Hiebl reported 39% of international business lost by Australia in 2017 was due to travel distance, followed by 22% due to total event costs and financial incentives offered by competing countries. [more - original PR]