This year’s Federal Budget has delivered a mixed bag for Victoria’s tourism industry with wins and losses in some key areas.
Victoria Tourism Industry Council Chief Executive Felicia Mariani has welcomed the Federal Government’s major investment for the Melbourne Airport Rail Link and the expansion of Avalon Airport as well as $45 million to improve tourism related infrastructure as part of the overall $206.5 million Building Better Regions Fund.
Tourism businesses will also benefit from the extension of the $20,000 instant asset write-off for a further 12 months, the cutting of the company tax rate to 25 per cent over a 10-year period. As well, cuts to personal income tax rates will encourage people to spend more and engage in more events and leisure tourism activities across the state.
“VTIC welcomes any initiatives that cut expenses for our tourism operators and put more money into the pockets of consumers who can then spend this new discretionary income across retail, tourism and hospitality,” Ms Mariani said.
“The significant infrastructure funding announced in the Federal Budget, particularly the $5 billion to support the Melbourne Airport Rail Link and the $20 million to expand Avalon Airport’s footprint as an international terminal are both exciting projects that speak directly to our advocacy efforts.
“The Melbourne Airport Rail Link is a vital piece of connecting infrastructure for Victoria and we would urge the State and Federal Governments to continue dialogue to resolve the issues around the most appropriate route and funding arrangements.
“This is a critical project to a destination that will become Australia’s most populated city by 2030.”
Ms Mariani said Victoria’s $25 billion tourism industry would continue to work with the State and Federal Governments to secure critical investments to support and grow the visitor economy.
“VTIC is hopeful that the Federal Government will match the State Government’s $153 million commitment to an iconic Australian road trip, considering that the Great Ocean Road sees more visitors each year than Uluru and the Great Barrier Reef combined.”