TTF Australia CEO Margy Osmond said the NSW Budget contains the necessary stimulus to enable tourism to survive through Christmas and summer but that next year’s 2021-22 Budget will be even more important than todays.
“The NSW Budget contains a series of stimulatory and infrastructure related measures across the tourism and transport sectors to kickstart the state’s economy over the short term and medium term,” Margy Osmond said.
“However, we are not out of the woods yet and long-term support for our sectors including for the ailing aviation sector will be needed as domestic border uncertainly continues and air travel confidence remains low. As various job support measures also taper off early next year, all NSW eyes will be on the approaching 2021 State Budget.”
TTF’s transport sector welcomes a 29.7 per cent increase in funding for the NSW transport capital program over the next four years when compared with the last budget, with $72.2 billion committed for projects through to 2023-24.
This includes $10.4 billion for Sydney Metro West (creating 10,000 direct jobs during construction), $9.2 billion for Sydney Metro Western Sydney Airport (14,000 jobs during construction) and $2.2 billion for the Sydney Gateway road and tunnel improvement project around Sydney Airport (1000 jobs).
“While our industry would have liked to have seen support for Parramatta Light Rail Stage 2, we welcome funding to build and complete Stage 1. We also welcome the $258 million four-year investment together with the Federal Government in the NSW Fast Rail network which will be a game-change for NSW train travel as more people consider flexible and remote work arrangements,” Margy Osmond continued.
“A range of measures will also boost the NSW visitor economy including the signature ‘Out and About’ digital travel voucher program which will be a $500 million lifeline for local cafes, restaurants and cultural attractions.
“Destination NSW will also spend $200 million including on the promotion of tourism campaigns like the existing ‘Love NSW’ campaign across NSW, the ‘Love It Like You Mean It’ campaign in Sydney and the existing ‘Great Escape’ campaign to attract interstate visitors to NSW. This will also help to attract new events on top of Disney’s Frozen, Pippin, Hamilton, The Rugby Championships and the Sydney SuperFight.”
The Budget also provides a dedicated $104.5 million Arts Maintenance and Upgrade Fund which will help NSW Cultural Institutions and support over 1,100 jobs. This supports existing long-term funding for other projects including $371 million for the Walsh Bay Arts Precinct, $750 million for the new Sydney Fish Markets, $344.3 million for the Sydney Modern Project and $213.3 million for the Sydney Opera House Stage 1 Renewal program. Other important measures include planning reform to speed up assessments and additional skills and training support.
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