Tourism Australia, the Department of Resources,
Energy and Tourism (DRET) and the Australian Trade Commission (Austrade)
have joined forces to promote the many investment opportunities
across the Australian tourism industry to foreign and local
The five-year partnership was formally unveiled
at a launch event in the Eureka Tower in Melbourne, attended by
the Minister for Tourism, the Hon Martin Ferguson AM MP.
In activating the partnership, Tourism
Australia, Austrade and DRET unveiled several communication tools
including for the first-time the Australian Tourism Investment
Guide, which outlines up to 80 investment ready opportunities and
proposed tourism projects, a marketing video and micro-website creating a single destination to
assist tourism investment decision-making.
The guide is a major priority under Tourism 2020
- Australian tourism’s strategy for sustained, long term growth -
and identifies tourism investment ready projects across all states
and territories. The investment ready list covers city-based and
regional Australia projects, including:
-Perth Waterfront & Waterbank East Perth, Western
Australia - five-star hotel and mixed use development
Head on the Great Ocean Road, Victoria - luxury lodges and hotel
-Pumphouse Lake St Clair at Cradle Mountain,
Tasmania - wilderness lodge
- The Landing at Gosford, NSW -
waterfront precinct and accommodation development
capital CBD accommodation developments in Adelaide, Brisbane and
Darwin and Stromlo Forest Park Development, Mount Stromlo (ACT)
Tourism Research Australia has released the
inaugural Tourism Investment Monitor 2012 to provide investors
with an overview of the tourism investment pipeline, applying
further impetus to support future supply side activity and further
grow tourism as Australia’s largest services export earner. The
Monitor states A$42 billion is within the investment pipeline
placing it on track to accommodate expected demand.
Tourism Australia Managing Director, Andrew
McEvoy, welcomed the partnership noting the collective approach
would help to deliver enhanced outcomes for the Australian tourism
industry and the wider economy, by demonstrating the case for new
and greater levels of investment.
“We acknowledge that investment sourced both
locally and internationally, is vital to growing the Australian
tourism industry and achieving our industry’s goal of doubling
overnight visitor expenditure to up to A$140 billion a year by
2020. This is the level of growth we need to bring new investment
to life,” Mr McEvoy said. “As part of a recently expanded remit
for Tourism Australia, we’re broadening our focus to play a
greater role to help facilitate tourism investment opportunities
and more strongly align demand and supply side activities.”
Austrade CEO, Peter Grey, said that as a joint
partner, Austrade endorsed this new government initiative
and looked forward to working with Tourism Australia.
“As Australia’s trade, investment and education
promotion agency, one of our key responsibilities is to attract
foreign investment and our international network will utilise
these communication tools to showcase the investment opportunities
across Australia’s tourism industry,” Mr Grey said. “In addition
to Australia’s strong accommodation sector, Australia’s economic
resilience during the global economic crisis, 20 years of
uninterrupted growth to 2011 and close proximity to the
Asia Pacific region provide compelling reasons why Australia is an
attractive investment destination. Austrade’s global network will be the first
port of call for interested foreign investors, providing seamless
access to information about all tourism investment opportunities
across Australia. We will continue to work closely with state and
territory governments to provide tangible leads that, in the long
term, bring tourism infrastructure opportunities to fruition.”
Mr McEvoy said the new ‘team Australia’
approach, involving the state and territory government investment
and tourism agencies, sent out a powerful message to investors
that Australian tourism was open and ready for investment – be
they domestic based or from western or eastern markets.
“Combining our collective experience, skills and
resources and speaking to the investment community with one,
uniform voice is a significant step and one which I think will be
warmly welcomed by investors here at home and overseas,” Mr McEvoy
Mr McEvoy said that while the investment
attraction program would cover all forms of domestic and foreign
investment, Asia would be a priority.
"Australia is within the strongest performing
tourism region and largest global aviation market in the world.
Our country is poised to take advantage of some of the exciting
opportunities being created through the powerhouse economies of
Asia, particularly in China, our fastest growing and highest
international spending market,” Mr McEvoy said.
Tourism plays a pivotal business role in the
Australian economy and is the largest services export earner.
Tourism consumption is now valued at A$96 billion, which includes
the accommodation sector achieving more robust performance,
through rising international and business visitor nights and a
growing domestic tourism sector.
Overall Foreign Direct Investment (FDI) into
Australia grew by 7.5% to A$473.7 billion in 2010,
following inward FDI growth of 11.1 per cent in 2009 over 2008.
See other recent news regarding: