Investment criticism unfounded, says Gray

Investment criticism unfounded, says Gray
By admin


Tourism Minister Gary Gray has highlighted the appeal of Australia as an investment destination as he refuted Coalition claims that a recent Tourism Australia report on the subject was "damning" of government policy.

The TA-commissioned study by real estate firm Jones Lang LaSalle surveyed 100 industry stakeholders around the world on the appeal of investing in Australian accommodation real estate.

“Overwhelmingly investors felt that Australia rated more highly than any other destination in the region for its investment potential,” Gray said. “Investors also felt that Australia was set for an upswing in investment later in the decade.”

Gray denied accusations the report had been kept “secret”, insisting it had been forwarded to industry organisations and investment stakeholders through May and June, as he branded the Coalition comments a “disgrace”.

“They are promoting the entirely false idea that a report commissioned by Tourism Australia is secret and damning of our industry when it is not – and when more than 90 per cent of tourism operators are small businesses who do not need to have their industry talked down by poorly informed Coalition comments,” Gray said.

However, he admitted the report had highlighted red tape as a hindrance of investment and said the government was taking the issue seriously.

“All state and territory Ministers have agreed to cut red tape to make investment quicker and easier,” he said.

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