Fergie chases tourism investment

Fergie chases tourism investment
By admin


Australia is upping its play for foreign tourism investment, with tourism minister Martin Ferguson claiming there has “never been a better time” to invest in Australian tourism.

Speaking at the Tourism Destination Asia Conference in Singapore, Ferguson highlighted strong growth prospects, relatively low risk and consistently high commercial returns as incentives for foreign investors.

He referred to recent data from the Australian Bureau of Statistics which pointed to increased consumer demand for hotel rooms, with a limited supply of stock providing “healthy yields”.

In addition, Tourism Australia’s There’s Nothing Like Australia campaign, and the implementation of the $48.5 million Asia Marketing Fund were growing interest in the destination.

“On the supply side, we need to have the quality product and services to meet the expectations created by our global marketing campaigns,” Ferguson said. “We therefore need to chase tourism investment as energetically and effectively as we chase tourists.”

Ferguson confirmed the government had made tourism a “national investment priority” and had identified six regulatory reform priorities to reduce the time and cost of investing in Australia.

The government is working closely with Tourism Australia and Austrade to attract investment in 80 projects.

I

Email the Travel Weekly team at traveldesk@travelweekly.com.au

australia

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