- $125 million for Tourism and Events Queensland
- More funds to support inclusive grassroots community sports infrastructure for the athletes of tomorrow
- Innovation commitment continues with additional funds for female founders and venture capital development funds
The ongoing transformation of Queensland’s rebounding visitor economy is again a key focus of the 2023-24 State Budget.
The Palaszczuk Government has committed to increasing Tourism and Events Queensland’s base funding to $125 million-a-year for the next four years as it works towards ambitious goals for the state’s tourism and events industry.
An aspirational industry goal of achieving $44 billion in overnight visitor expenditure was set in November and the Palaszczuk Government is backing its lead marketing agency to drive demand.
Other Tourism highlights in the 2023-24 Budget include:
- $20 million in 2023-24 to progress Towards Tourism 2032, including the Tourism Experience and Infrastructure Grants program, designed to support tourism experience development in priority areas over two rounds. It will focus on First Nations, sustainability, eco/nature, accessibility and paleo.
- $12 million over 2 years to support the 2023 Year of Accessible Tourism activities, increasing awareness and capability and for visitor experience development.
The Budget includes tourism business development and continues to support tourism infrastructure and attraction investment.
Meanwhile, the Palaszczuk Government will continue to lead Queensland’s sport and active recreation industry and support pathways to assist Queenslanders to reach their full sporting potential.
The Budget will deliver $10 million for female facilities and inclusive infrastructure for clubs, sporting organisations and councils including wider pathways, ramps, upgraded toilets and change rooms.
A $2 million investment over 2 years will produce a state-wide audit of facilities for scouts and girl guides and start work on the refurbishments and upgrades that are most needed including modernising huts and dens and improving disability access.
A further $4.8 million over 2 years is allocated for SwimStart, which is an extension of FairPlay, making more than 30,000 vouchers available to eligible families for children up to the age of four to learn to swim.
The Palaszczuk Government is committed to innovation and will work with venture capital funds to provide start-ups with greater access to early-stage capital, which will support them to scale up and accelerate growth.
The new Queensland Venture Capital Development Fund (QVCDF) will build on the success of the Advance Queensland initiative, which has supported more than 28,000 good jobs across the state and leveraged over $1 billion from industry partners.
This fund will increase support for innovative early-stage Queensland companies and help Queensland startups become investment ready.
The Palaszczuk Government is also backing in women in business through an additional $5 million over 2 years to expand the Female Founders program to focus on growing the number of women entrepreneurs in Queensland’s innovation ecosystem.
Quotes attributable to the Premier Annastacia Palaszczuk:
“Tourism, sport, and innovation are all key planks in supporting and growing a strong Queensland economy.
“In these sectors the budget targets investment, not just aimed at growing industry, but also strengthening our communities through partnerships and by being more inclusive.
“It’s through this lens that the budget is most impactful, in identifying the area’s we need to invest in, to both secure good jobs while protecting and enhancing our Queensland lifestyle as we grow.”
Quotes attributable to Treasurer and Minister for Trade and Investment Cameron Dick:
“The resilience of the Queensland tourism industry to rebound after the pandemic is remarkable, and this $125 million-a-year for the next four years will help the Government reach its bold ambitions to rebuild the sector even stronger.
“Innovation is central to developing our state’s jobs of the future and the new $150 million Queensland Venture Capital Development Fund is aimed at doing just that.”
Quotes attributable to Innovation Minister Stirling Hinchliffe:
“The future is bright for our tourism industry as Queensland continues to hold our nation-leading position as Australia’s most popular holiday destination for domestic visitors.
“We are now focused on and determined to rebuild our international markets, not just getting them back to pre-pandemic numbers but growing them even stronger.
“Queensland had the best and quickest recovery from the pandemic than any other state, but we’ve always said we want to rebuild better and by locking in this increased funding for the next four years we’re backing TEQ to support the industry to do just that.
“Better designed female facilities and inclusive sporting infrastructure gives more Queenslanders the opportunity to participate in sport and other physical activities.
“We are looking for shovel-ready projects to upgrade facilities for scouts and girl guides to improve community access and to make things that much easier for our amazing volunteers.
“SwimStart will bring learn-to-swim classes within reach for 30,000 toddlers, helping low-income families with cost-of-living pressures and giving the swimmers of tomorrow a head start.”
“This $75 million of cornerstone funding into venture capital and accelerator programs, matched or better by the private sector, is all about creating the Queensland jobs of the future.
“This builds on the latest $142 million investment into the Advance Queensland – Innovation for a Future Economy 2022–2032 Roadmap – from last year’s budget.
“The roadmap increases investment so that companies can start, stay and grow in Queensland and build a well-connected, inclusive and thriving innovation ecosystem.”
