The announcement of the winning bid and timetable for construction of the new Convention Centre today will provide a great economic boost to Melbourne and the wider Victoria economy, says VECCI.

"The Government has listened to business with regards to this Project", says VECCI Chief Executive Officer, Mr Neil Coulson.

"VECCI has been alarmed at the loss of convention business to other cities in Australia and the Asia Pacific region and has been pushing for a new Convention Centre since the beginning of this decade.

"The lack of an adequately sized convention venue is costing Melbourne around $230 million per annum in lost business.

"The major events and conferences market is substantial and Melbourne currently struggles to cater for larger conventions of more than 1500 delegates.

"As the economic growth and incomes increase in the Asia-Pacific region, tourism will become a more important industry for Victoria over coming decades - an important piece of infrastructure such as the Convention Centre will attract high yielding business tourists in particular.

"The construction phase will also provide a timely boost to economic activity in Melbourne.