The Victoria Tourism Industry Council welcomes the $50 million Tourism Icons Package announced in tonight’s Federal Budget and calls for a share of this funding to go towards iconic attractions in regional Victoria and help in driving tourism in our regions.
The Tourism Icons Package will provide Australian Government funding of $50 million over three years for investment in new iconic attractions across Australia.
Victoria Tourism Industry Council Chief Executive Felicia Mariani said investment in priority tourism projects was a positive announcement in the budget, and we look forward to working with Government in determining the most effective allocation of that funding to Victoria.
“Earlier this week the latest International Visitor Survey results showed Victoria’s visitor economy again hit a new record in international visitor expenditure, reaching $8.5 billion, up 12.9 per cent year-on-year and well above the national average growth rate of eight per cent.
“But our strong growth in international spend continues to be buoyed by Melbourne, which receives $7.9 billion of international visitor expenditure, compared to regional Victoria receiving just 7 cents of every international dollar being spent in Victoria.
“There are so many great attractions in regional Victoria in desperate need of investment and we will continue to advocate for these to receive the funding they need to grow.”
Ms Mariani added: “While it’s really pleasing to see that Government has held the line on no increase to the Passenger Movement Charge, it’s disappointing that the budget for Tourism Australia (TA) has seen only a nominal increase.
“TA has not had a significant lift in its budget allocation for some time now, while the cost of advertising and promotion in our key global markets like China and the US continues to increase year on year.
“TA is to be commended on how they effectively stretch every dollar to drive incredible results for our industry, but they are being outspent by other destinations in a highly competitive global environment.”
Tourism and hospitality businesses are set to benefit from the expansion of the instant asset write-off. Businesses with a turnover of up to $50 million (up from $10 million) will now benefit from the scheme with the maximum deduction also increasing from $25,000 to $30,000.
The budget also confirms $30.0 million from 2020-21 under the Geelong City Deal to support the implementation of the Shipwreck Coast Master Plan by upgrading tourism infrastructure at the Twelve Apostles, Glenample Precinct and Gibson Steps.