Friday, December 21, 2012

Sydney to invest US$1.6m to support conference segment


News this week: In a bid to develop the local conference industry, the City of Sydney will invest A$1.5 million (US$1.6 million) in Business Events Sydney (BESydney) over the next three years.

The independent, not-for-profit BESydney is set to receive A$500,000 (US$533,000) annually in the next three years to promote the city as a global business events destination. BESydney has reportedly confirmed 103 events for Sydney which will bring an estimated US$241 million and attract 58,000 visitors.

Deputy premier of New South Wales (NSW), Andrew Stoner, said, “As part of an aligned economic development strategy, these events also stimulate trade and investment opportunities for local businesses, fuel knowledge exchange, and more broadly promote innovation and productivity.”

This post is excerpted from BSG's weekly e-newsletter which is part of our subscription research service, BSG Tracker. Visit our website to find out more about this service. You can also follow us on Twitter for all the latest updates.

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