This month, Tourism Ministers released an Investment and Regulatory Reform Report Card and accompanying Progress Report. These documents highlighted the work undertaken by Tourism Ministers and jurisdictions to remove investment barriers at both the state and national level.
This first report card on tourism reforms has revealed that Federal, State and Territory Governments were making progress in cutting red tape to make investment in the Australian tourism industry easier.
The Investment and Regulatory Reform Report Card was aimed at tracking the progress of red tape reduction in all Australian jurisdictions across various fields – from
planning regulations to labour supply constraints. The Minister for Tourism, Martin Ferguson has said the Report Card showed substantial progress in a number of fields including national collaboration and investment facilitation services. It also shows the areas where more work remained to encourage new and improved tourism attractions and accommodation across the country.
According to Mr Ferguson, investing in new developments has become easier due to Tourism Ministers around the country working together to implement regulatory reform at both the national and State levels. “We are committed to ongoing regulatory reform to remove the challenges for investors and operators across all industry sectors,” Mr Ferguson said. “Tourism planning and labour supply initiatives align with the Council of Australian Government’s broader agenda to cut red tape and reduce the regulatory burden on investment.” He also said the initiatives also supported the Australia in the Asian Century White Paper, which highlighted the importance of foreign investment in the national tourism industry.
Mr Ferguson also states that, “To achieve the Tourism 2020 goal of increasing overnight visitor expenditure up to a total $140 billion by 2020, an additional 40,000 rooms are needed,” he said. “The further investment required includes more capital city accommodation, rejuvenated accommodation in regional areas, new business event facilities and innovative leisure attractions,”.
To view the full Tourism Ministers’ Tourism Investment and Regulatory Reform 2012 Report Card follow the link.