The Million Dollar Memo initiative will offer a group of colleagues a trip to the Australian state worth up to AUD1m (£621,733).
Flood recoveryTourism Queensland UK, Ireland and Nordic regions director Jane Nicholson said the project had been in the planning for over a year, and was not a response to flooding that took place earlier this year.
"With longer lead times people are aware that when there are natural disasters things can get back on track quickly," she said. "You would not know there had been any flooding in Brisbane now – it has bounced back."
The competition will be part of the tourism authority’s five-year global strategy aiming to promote Queensland as a key incentive destination.
Companies can enter by uploading a 60-second video by 1 May, explaining why its staff deserve to win a luxury incentive trip to Queensland.
A shortlist of applicants will then nominate one of their colleagues to take part in a series of incentive-based challenges in Queensland to determine the overall winner.
The competition follows Tourism Queensland's Best Job in the World campaign, launched in 2009.