2023-24 Federal Budget Update

Message from Minister for Trade and Tourism

Earlier this month the Treasurer handed down the Albanese Government’s second budget. This budget is restrained and responsible, it creates opportunities for more Australians while addressing the immediate challenges we are facing.
The Government is continuing to invest in initiatives to support the travel and tourism industry. There are a variety of measures in this budget to assist the industry, including:

  • An additional $48.1 million for visa processing targeted at reducing the backlog, improving visa service delivery, and enhancing visa processing IT.
  • Investing more than $262 million of new funding in our iconic National Parks such as Kakadu and Uluru-Kata-Tjuta to support tourism, conservation and cultural heritage activities.
  • A $535.3 million investment in our National Collecting Institutions, strengthening Australia’s cultural infrastructure, a key pillar of the Government’s new National Cultural policy.
  • $39.3 million to build electric vehicle charging infrastructure, which will support travellers with electric vehicles to travel further and more confidently into our regions.
  • Building workforce capability by investing in the TAFE system and tackling housing affordability, which is linked to workforce shortages, particularly in the regions.
  • Up to $3.4 billion over 10 years for investment in world-class infrastructure for the Brisbane 2032 Olympic and Paralympic Games.
  • Reducing business costs, including for eligible tourism operators, through a $310 million initiative to support 3.8 million small and medium sized businesses improve their energy efficiency.

Government funding for Tourism Australia will continue to support the agency to invest heavily over the next two years in driving the international tourism recovery, through the Come and Say G’Day campaign.

The Government is also getting on with the job of implementing the $48 million Tourism and Travel support package announced in the October 2022 Budget, along with delivering a range of actions under the THRIVE 2030 strategy for the visitor economy.

The Government’s Tourism and Travel package is already helping businesses train and attract workers, improve tourism experiences, and get back into the international market.

I know there are elements of the Budget that will have other impacts for the sector – these are difficult decisions but I remain committed to working with each and every one of you as we continue to build on the ongoing recovery of the sector.

As always, please feel free to contact me or my office on 02 6277 7420 should you wish to discuss these matters further.

Yours sincerely

Don Farrell
Minister for Trade and Tourism
Special Minister of State

Tasmanian Wombat
Binalong Bay,
Bay of Fires Conservation Area

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