Event Investment

11 October 2011

Destination NSW identifies, attracts, and nurtures events that provide economic and/or strategic benefits to Sydney and Regional NSW.

Event owners seeking investment from Destination NSW must consider if the event will:

  • provide a substantial economic impact for Sydney and/or NSW;
  • provide opportunities for the marketing and promotion of Sydney and NSW both nationally and internationally;
  • enhance Sydney’s international profile and reputation as a global city.

Conference organisers considering opportunities in Regional NSW should visit Meet in Regional NSW. For Sydney based business events, visit Business Events Sydney to find out about assistance programs for meetings, incentives, conventions and trade exhibitions.

Event Investment Process

Expression of Interest

Event owners are invited to submit an expression of interest to Destination NSW. This should include a high level summary of the event and clearly outline the benefits the event will deliver to NSW or specifically the host location.
Submit an expression of interest for event investment

Full Proposal

Event owners may be invited to submit a full proposal by Destination NSW. This decision is based on numerous factors, primarily:

  • ability for the event to deliver against Destination NSW objectives;
  • availability of funds;
  • other key government priorities.

Assessment Criteria

The following criteria form the basis of Destination NSW consideration for potential investment in events.

Economic Impact

Destination NSW targets events that deliver new expenditure in NSW (i.e. money earned outside of NSW) as a direct result of the event being held in the state.

The key factors assessed are:

  • the anticipated number of intrastate, interstate and international participants, spectators, officials and/or other visitors who will travel specifically for the event and stay a minimum of one night;
  • their average length of stay;
  • their estimated daily expenditure.

Data from previous events is used to verify the above information. In the case of a first time event where no historical data is available, a credible estimate of its potential economic impact is calculated through:

  • discussions with the event organiser;
  • comparison with events of a similar nature.

Strategic Marketing Impact

This refers to an event’s effectiveness in driving marketing outcomes for Sydney and NSW including, but not limited to:

  • what the event says about Sydney/NSW (or the location of the event);
  • the nature and size of the event audience;
  • whether the event aligns with the destination marketing strategies already in place for Sydney/NSW (or the location of the event);
  • how the event may raise or create awareness of NSW expertise in a specific sector; and
  • the overall media impact achieved via domestic and international broadcast or media coverage.

Community Impact

This refers to an event’s capacity to positively engage large and diverse sections of the community and galvanise community spirit including:

  • the opportunity for the local community to participate in the event;
  • upskilling NSW residents in various industries;
  • positively engaging the local business community; and
  • involvement of the community at large through volunteer programs.

Key International Markets

The extent to which an event can provide benefit to Destination NSW in key international markets will be taken into consideration. These markets include:

  • China
  • France
  • Germany
  • Korea
  • Hong Kong
  • India
  • Indonesia
  • Japan
  • Malaysia
  • New Zealand
  • Singapore
  • Taiwan
  • United Kingdom
  • USA

Private Sector Investment

The percentage of the event budget provided by non-government sources (including corporate sponsorship) is an important consideration for Destination NSW.

Seasonal Capacity

The seasonal placement of an event is a key consideration due to the fluctuating occupancy rates and tariffs in the tourism and hotel sector. During peak times hotels and attractions are naturally near capacity which may affect the ability to accommodate increased demand.

Key Performance Objectives

Destination NSW investment in events is subject to the achievement of various milestones and performance deliverables that address our strategic objectives.

Regional Events

Major events in Regional NSW are assessed using the same key factors as Sydney events. However, aspects of the event’s host region in NSW will be taken into account when considering the economic and strategic marketing impacts.

Major events are those that are proven to or likely to generate significant economic benefit to Regional NSW through interstate and/or international visitation.

Emerging events and those developed within local communities may be supported through the Regional Flagship Events Program as per below.

Regional Flagship Events Program

The Regional Flagship Events Program identifies and supports events in Regional NSW that have the potential to act as ‘cornerstone’ or ‘flagship’ tourism events for their area by attracting overnight visitation and delivering long term benefits to their region.

The Regional Flagship Events Program comprises three funds which provide a pipeline of investment support:

  • Incubator Event Fund – supports the establishment of new events
  • Flagship Event Fund – supports the marketing of emerging events to increase their profile and encourage visitation
  • Event Development Fund – supports the strategic development of proven flagship events as drivers of tourism

More information on the Regional Flagship Events Program

NSW Regional Conferencing – Meet in Regional NSW

The NSW Regional Conferencing Unit within Destination NSW will lead the implementation of the NSW Regional Conferencing Strategy and Action Plan and support Regional NSW in effectively targeting opportunities for business events creation and attraction, sector capability building and undertaking promotional activities to grow the market.

More information on Meet in Regional NSW

More information

For general assistance regarding event investment contact Destination NSW:

Email: info@dnsw.com.au
Phone: (02) 9931 1111


Related pages

Business Development Resources