Following NSW Business Chamber’s recent policy paper, NSW Visitor Economy on the move
, submitted to all sides of the political spectrum in the State, we are pleased to see that the Baird Government is planning to extend its’ efforts to achieve the 2020 target of doubling overnight expenditure to $36 billion.
The NSW Government will commit an additional $123.35 million to secure more major sporting/cultural events and boost visitor expenditure by an estimated $481 million.
This additional $123.35 million represents a 25% budget boost
and brings total tourism and major events spend to over $643 million over four years.
- $40.6 million more to grow regional tourism
- $22 million for more events in Western Sydney, as part of a $73.25 million injection to make Sydney the number one destination for major events
- $9.5 million more to target overseas visitors from priority international markets
Some regional areas have seen significant private sector investment in new conferencing product recently to stimulate mid-week occupancy. However, regional destinations & operators seeking to grow their conference and incentive market share have been seeking clarity on government priorities to support the regional conference sector to help buck the regional performance trends.
As such, it’s pleasing to see the Baird Government’s financial commitment to stimulating the regional conference market and we look forward to the release of the Regional NSW Conference Strategy.
The Tourism Industry division
also looks forward to playing an active role in the development of the Western Sydney Tourism Strategy in the coming months.
View the NSW Business Chamber’s tourism policy paper, NSW Visitor Economy on the move here