The government has announced that a new tourism marketing fund is 'on course' to reach £100m after private sector companies pledged to help match public investment.

British Airways; DFDS (ferries); lastminute.com; P&O; and Radisson Edwardian have all agreed to back the fund, which has received £50m from tourism agency VisitBritain. It is hoped the four-year campaign - details of which will be revealed in spring - will help create 50,000 new jobs and attract 1 million extra overseas visitors a year.

Events including this year's Royal Wedding; the Queen's Diamond Jubilee; and the 2012 London Olympic and Paralympic Games are expected to boost inbound tourism. Prime Minister David Cameron said: "Last year we challenged British businesses to help us put together the best tourism marketing campaign ever for Britain.

"The response has been magnificent, with pledges of cash and kind from companies that mean we are well on the way to our target." Culture secretary Jeremy Hunt added: "British companies have dug deep to back us in promoting this idea. And I hope that others will pitch in too."