Over the next three years, £326k (AUS$500,000) a year will be invested in Business Events Sydney (BESydney), the body that promotes the city as an events destination.
"Sydney is recognised globally as a leading destination for business events," said Lyn Lewis-Smith, chief executive of BESydney "Our future success will be underpinned by a whole-of-city approach to attracting, winning and delivering world-class conferences, corporate meetings and incentive programs."
Last financial year, Business Events Sydney secured 103 events for Sydney. It is estimated these events will have an economic impact of $225.6 million and attract approximately 58,000 visitors when they take place over the coming years.
In December, BESydney revealed plans for a £230m (AUS$353.5m) convention, exhibition and entertainment precinct in Darling Harbour, complete with a 900-room hotel.