Business Events Victoria says it is pleased with the Victorian State Budget that was handed down on Tuesday, 20 May, 2025, with $7.5 million being allocated across a two-year period to support business events in Victoria.

This funding includes the operating of Business Events Victoria, Melbourne Convention Bureau and the Business Events Fund.

Additionally, $11 million has been allocated for the opening and operation of Nyaal Banyul Geelong Convention and Event Centre (pictured, above), which is set to open in July 2026.

Business Events Victoria general manager Chris Porter says the government funding commitment provides an opportunity to drive the Regional Victoria Business Events Program for the next 12 months.

“Regional business events play a critical role in supporting regional economies, especially during shoulder and midweek periods,” he says.

“In what is a very competitive landscape, with regional Victoria competing nationally against other regional destinations and capital cities such as Adelaide and Hobart, this funding provides support to continue to profile our great state to these high-value visitors.

“With Nyaal Banyul opening next year, this additional funding will ensure the opportunity is maximised for Geelong, with a halo effect benefiting all of Victoria, and continuing to profile all of regional Victoria as a business events destination.”

Porter says Business Events Victoria welcomes the funding for the next two years, however he believes greater long-term vision for business events is required, with calls for a four-year funding plan, the development of a statewide Business Events Strategy, and investment in contemporary business events research.

“With business events being planned two-, three- or four-plus years in advance, a longer-term commitment and robust statewide strategy is required to support the successful acquisition of business events to Victoria,” he says.

Other funding in the 2025-2026 Victorian State Budget includes $11 million for Victoria’s regional tourism boards and visitor economy partnerships; $6 million to support nature-based tourism and the environment along the Great Ocean Road, including $2.3 million to complete the new Twelve Apostles Visitor Experience Centre; and up to $7 million to boost destination marketing across Victoria through a cooperative fund.