The NSW Government has announced it will “turbocharge” the local visitor economy by investing more than $530 million into the recovery of tourism and events across the state.
The package is part of the NSW Government’s COVID-19 Economic Recovery Plan and will see $150 million go towards supporting the recovery of major event activity across the state, including a $50 million Regional Events Package.
Additionally, $6 million will go towards bringing business events back to the city; $50 million for the CBDs Revitalisation Program to support events in the central business districts across Greater Sydney and surrounds; and a further $25 million for the Festival Relaunch Package to give festivals the stability and confidence to go ahead for 2022/23.
Furthermore, an Event Saver Fund will provide immediate support should events be cancelled or disrupted by any public health orders during the 2021-22 summer period.
A $250 million boost has expanded the Stay and Rediscover scheme to offer people in NSW a $50 voucher to use on accommodation within the state, supporting overnight stays for event attendance.
An Aviation Attraction Fund of $60 million has also been set up to entice international flights to return to Sydney, which will support the return of lucrative international events and delegates.
NSW Premier Dominic Perrottet said the investment would bring back visitors and supercharge the businesses and attractions that contribute $38 billion to the NSW economy.
“It’s also great news for people right across our state, reviving events and businesses bringing our major drawcards back to life,” the Premier said.
Treasurer Matt Kean said reviving the visitor economy is key to the state’s economic recovery.
“We want to give our events sector the confidence to get back to business and send the signal to the airline industry that NSW is and always will be Australia’s gateway to the world,” Mr Kean said.
After months of Sydney Business Events Coalition (SBEC) advocating for more support for the business events industry, ICC Sydney chief executive officer and SBEC chair Geoff Donaghy said the state government’s announcement has been well received by the industry.
“The advocacy of the members of SBEC across various government bodies, Ministerial offices, aligned association groups and all tiers of government has not gone unheard,” Mr Donaghy said.
“The specific mention of business events in order to boost activity in the city underpins the importance of the sector in revitalisating the Sydney CBD.
“More broadly this will stimulate activity and the increased marketing of experiences in Sydney that the entire visitor economy can benefit from.”
