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Australian tourism open for investment



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Minister for Resources and Energy, Minister for Tourism

Australian Tourism Open for Investment 02 May 2012

Tourism Australia, the Department of Resources, Energy and Tourism and Austrade have joined forces to market the Australian tourism industry to foreign and local investors.

The Minister for Tourism, Martin Ferguson AM MP, today launched the Australian Tourism Investment Guide and Tourism Investment Monitor to encourage greater international and local investment in Australia's tourism industry.

“It is time everyone understands Australia is not only a great place to visit, but a great place to invest,” said Minister Ferguson.

“Under the Tourism 2020 Strategy, the Commonwealth, state and territory governments are working to ensure continued growth and competitiveness in the industry by encouraging increased investment.

“We need investment if Australia’s tourism industry is to achieve the goal of doubling overnight expenditure to $140 billion by 2020.”

The Australian Tourism Investment Guide provides practical assistance and information to potential investors and showcases 80 investment-ready opportunities and proposed tourism projects.

The Tourism Investment Monitor, developed by Tourism Research Australia, outlines the $42 billion of existing and proposed tourism investment activity.

“Investment means more capital city accommodation, rejuvenated accommodation in regional areas, new business event facilities and innovative leisure attractions to serve our key growth markets, such as Asia,” said Minister Ferguson.

“The Tourism Investment Guide and Monitor builds on work with the states and territories under Tourism 2020 to cut red tape and ensure adequate transport infrastructure - all of which is vital to attracting investment and ensuring Australia’s $35 billion tourism sector is competitive and continues to contribute to the Australian economy and provide jobs.”

The Tourism Investment Guide is available at www.tourisminvestment.com.au.

The Tourism Investment Monitor is available at www.ret.gov.au/tourism/research/tra

Media Contact:

Cathryn Tilmouth - 0401 222 941

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