The English Rivera Airshow will return in 2022 and will be bigger than ever before.
Torbay Council is setting aside £750,000 to establish the bay as a destination for major events.
A council spokesperson said: “Discussions are currently under way to host an extended English Riviera Airshow in 2022 that will coincide with the Queen’s Platinum Anniversary.
“It will run alongside a number of other new events including a new Springtime Walking Festival and expanded Christmastime events.”
The bay is already home to a number of award-winning events such as England's Seafood Feast and the International Agatha Christie Festival.
Carolyn Custerson, the Chief Executive Officer of the English Riviera BID Company, said: “There has never been a more important time to develop and implement an Events Strategy, especially as we begin to emerge from the pandemic and look to support the tourism sector through its recovery, both now and in the longer term."
The Events Strategy was formally approved at a meeting of the council’s Cabinet. A new steering group will create year-round events in partnership with commercial event organisers, producers and event specialists.
They will also work with local volunteer and community groups.
The council says it will be the "first time" there has been a cohesive approach to event management in Torbay, allowing it to compete with other resorts which already have well-developed events.