Queensland has launched its latest high-profile competition - the “Million Dollar Memo” contest is a follow-up to the “Best Job in the World” campaign in 2007.

The new competition will give the winning company a holiday to Queensland worth up to Australian $1 million (about £620,000) and is open to companies around the world.

To enter, companies have to upload a video saying why they deserve to win the holiday. A shortlist of 20 firms will then nominate one of their colleagues to travel down under to take part in a series of incentive-based challenges to find the overall winner.

Tourism Queensland chief executive Anthony Hayes said the"Million Dollar Memo” was aimed at positioning Queensland as one of the world’s leading incentive travel destinations.

“We’ve sent the ‘Million Dollar Memo’ to thousands of companies and workplaces worldwide, including the UK and Ireland, inviting them to showcase their organisation to a global audience by telling us why they are the best company in the world,” he said.

The “Million Dollar Memo” is open to anybody from any organisation, company, business or workplace in any country and entries close on May 1.