To revitalise and grow Victorian tourism after the impacts of bushfires and the global pandemic, the Victorian Government has committed to investing $633 million to the Visitor Economy Recovery Reform Plan (VERRP), which will serve as a whole-of-state economy strategy, with a goal of achieving $35 billion in annual visitor expenditure and generating 300,000 jobs by June 2024.
The priority of the Visitor Economy Recovery and Reform Plan is to safeguard the future of tourism in Melbourne and regional Victoria by providing a framework for industry and the Victorian Government to work together to restore and grow this vital sector.
The Visitor Economy Recovery and Reform Plan supports Victoria’s long term reform strategy of growth and resilience.
The Visitor Economy Recovery and Reform Plan is a consolidated/amalgamated statewide response to both the impacts of the bushfires and the global pandemic, and the challenges identified in the Regional Tourism Review, a review that was commissioned in 2019 by the Victorian Government to ensure our regions received the support and opportunities they needed to grow in the tourism market.
Therefore, the plan is informed by detailed analysis and extensive consultation about the impacts of the bushfires and the pandemic – and the pathways for recovery, as well as delivers on the key findings from the Regional Tourism Review.
Regional Tourism Review key findings:
- Strengthening our tourism offering
- Making the most of our marketing spending
- Supporting industry
- Enhancing Regional Tourism Boards
- Better coordinating effort
Consultation included local businesses, industry leaders, local government, Regional Tourism Boards, Regional Partnerships, Traditional Owners and First Peoples communities, community groups and residents.
For Victoria to quickly increase economic activity and maintain and grow its visitor economy market share through and beyond recovery, the Visitor Economy Recovery and Reform Plan will focus on the following supply and demand pillars and core enablers, which have been identified as central to the visitor economy.
Flagship Tourism Projects
The Victorian Government is investing $149 million to deliver flagship projects across Victoria that can create a halo effect and spur private investment and new products in surrounding areas.
Ten projects in regional Victoria have been identified as iconic projects, receiving dedicated funding to improve visitor experiences at these locations via the Victorian Budget 2020-21.
The projects are:
- Wilsons Promontory Revitalisation
- Great Ocean Road Revitalisation
- Mallee Silo Art Trail
- Maximising investment in the Grampians Peaks Trail
- Falls to Hotham Alpine Crossing: Stage 1
- Murray River Adventure Trail
- Gippsland Tourism Recovery Package
- Brambuk Cultural Centre Revitalisation
- Ballarat Centre for Photography
- Prosecco Road – Early Works.
Regional Tourism Investment Fund
The Regional Tourism Investment Fund is a key part of the Visitor Economy Recovery and Reform Plan. The fund will deliver grants up to $10 million per project, with a minimum funding amount of $150,000 per project, focussing on four growth sectors as identified in the Visitor Economy Recovery and Reform Plan – nature, epicurean, arts and culture, and First Peoples’ led experiences.
The fund will support new and innovative tourism infrastructure projects that will increase visitation, drive private investment, deliver more jobs and improve outcomes for the state’s visitor economy.
Regional Tourism Investment Fund – Stimulus Round
The Visitor Economy Recovery and Reform Plan list over 30 new infrastructure projects that are in the pipeline to help the sector recover, drive visitation and create jobs, which are currently funded by the $46 million Regional Tourism Investment Fund - Stimulus Round. Some of these projects are already in the early stages of delivery and generating immediate economic benefits.
Download the complete list of projects supported by the Regional Tourism Investment Fund - Stimulus Round (XLSX 16.07 KB)