class business events sector across Ireland and realise the full benefits of business events. |
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So, what exactly is the Subvention Framework and how does it work? It is a mechanism designed to provide financial incentives to attract international business events and their delegates to Ireland, promote competitiveness, therein boosting local economies, increasing tourism, and enhancing Ireland’ s global reputation.
The Framework aligns to the new business events strategy and specifically supports the strategic objectives of securing events that help to achieve national priorities, drive balanced regional growth, extend the season, support the decarbonisation of the industry, and drive greater social impacts from hosting business events.
For many years, convention and visitor bureaus( CVBs) and policymakers focused primarily on straightforward economic returns. However, Ireland ' s new strategy marks a deliberate shift toward a more comprehensive approach- one that seeks to generate a balanced mix of economic, social, and environmental benefits from business events, with a strong emphasis on advancing the knowledge economy. The Subvention Framework is a key element of the new strategy, serving as both an incentive and a guiding mechanism to align stakeholder efforts with shared objectives, supporting both financial outcomes and the growth of the knowledge economy.
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It is essential that the strategy delivers tangible benefits to local communities, enabling them to experience the value and influence of business events. At the same time, it must actively work to reduce environmental impact and support national climate action goals, aligning closely with government policy.
Under the new Irish Subvention Framework, a € 0 baseline will apply to all new funding applications, meaning that no event is automatically entitled to subvention. Funding will instead be determined by the event’ s demonstrated potential to deliver wider legacy benefits for Ireland. This marks a significant shift from previous practice, establishing a fully collaborative approach where all stakeholders are jointly invested in achieving meaningful outcomes and long-term benefits, rather than focusing solely on financial metrics.
So, what are the expectations for change, and what benefits might arise? In summary, Ireland’ s national business events stakeholders- collectively referred to as Team Ireland- believe that this strategic shift, with the Subvention Framework as a central component, will lead to:
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Above: European Public Health Conference, Convention Centre Dublin |
• Economic growth: Increased number of international business events will boost local businesses and create jobs. There will also be an emphasis on‘ value’ over‘ volume’
• Social impact: Greater benefits to Ireland’ s visitor economy, enhancing host communities and alignment to wider Team Ireland policies, including delivering longer-term legacy benefits for sectoral communities.
• Environmental impact: Positioning Ireland’ s conference sector as a leader in sustainable tourism and a key contributor to national climate goals.
• Global reputation: Enhanced support will position Ireland as a leading destination for international business events.
Government investment in business events has consistently proven to be a catalyst for economic transformation and global competitiveness.
By positioning Ireland as a premier destination for business events, the country- and its communities- stands to unlock a wealth of opportunities, fostering innovation, professional growth, and long-term societal prosperity. n
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