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Holland tourism consortium changes financing formula

Winning more international events was the impetus behind some funding changes made at Netherland’s Board of Tourism and Conventions.

Key to these changes includes a relaxation of terms and conditions to the country’s pre-financing and guarantee fund (VGF).

A tool to help the country lure additional international conferences, the VGF gives event organizers of multi-day conferences additional financial security by helping organizers cover their initial costs and other financial risks, up to € 90,000 (about US$121,000).

The VGF is now 100 percent guarantor, where previously the organizer had to find a third guarantor for 25 percent of the guarantee amount.

In addition, the application should be submitted no later than eight months prior to the start of the conference, which is four months less than the prior application time of 12 months.

Also, the conference budget must be drawn up by a party that has experience in organizing international conferences including accommodations, instead of the budget having to be drawn up by a professional congress organizer.

For more information, visit www.vgfholland.nl.

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Posted in International, World
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