Budget supports tourism, sport and innovation

  • $125 million for Queensland tourism and events
  • More funds to support an inclusive grassroots community sports infrastructure for tomorrow’s athletes
  • The commitment to innovation will continue with additional funds for female founders and venture capital development funds

The ongoing transformation of Queensland’s recovering visitor economy is again a focus of the 2023-24 state budget.

The Palaszczuk Government has pledged to increase Tourism and Events Queensland’s base funding to US$125 million per year for the next four years to pursue ambitious goals for the state’s tourism and events industry.

In November, the ambitious industry goal of reaching $44 billion in visitor accommodation spend was set, and the Palaszczuk government is backing its leading marketing agency to fuel demand.

Other tourism highlights in the 2023-24 budget include:

  • $20 million in 2023-24 to advance Towards Tourism 2032, including the Tourism Experience and Infrastructure Grants program designed to support the development of tourism experiences in priority areas in two rounds. The focus is on First Nations, sustainability, eco/nature, accessibility and paleo themes.
  • US$12 million over two years to support accessible tourism activities in 2023, increase awareness and capacity, and develop the visitor experience.

The budget covers tourism business development and continues to support investment in tourism infrastructure and attractions.

In the meantime, the Palaszczuk Government will continue to guide Queensland’s sports and active leisure industry and support ways to help Queensland residents achieve their full sporting potential.

The budget will provide $10 million for women’s facilities and inclusive infrastructure for clubs, sports organizations and communities, including wider walkways, ramps, upgraded toilets and locker rooms.

An investment of $2 million over two years will result in a statewide audit of Girl Scout and Girl Guide facilities and begin work on the renovation and modernization work that is most needed, including upgrading cabins and caves and improving access for the disabled.

An additional $4.8 million over two years will go to SwimStart, an extension of FairPlay that provides eligible families with more than 30,000 vouchers for children up to age four to learn to swim.

The Palaszczuk government is committed to innovation and will work with venture capital funds to give start-ups better access to early-stage capital that will help them expand and accelerate their 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 raised over $1 billion from industry partners.

This fund will increase support for innovative young Queensland companies and help Queensland start-ups become investment-ready.

The Palaszczuk government is also supporting women in business with an additional $5 million over two years to expand the Female Founders program and focus on growing the number of women entrepreneurs in Queensland’s innovation ecosystem.

Quotes from Prime Minister Annastacia Palaszczuk:

“Tourism, sport and innovation are key factors in supporting and growing a strong Queensland economy.

“These sectors have budgeted investments aimed not just at growing the industry, but also at strengthening our communities through partnerships and greater inclusion.”

“From this perspective, the budget is most effective in identifying the areas we need to invest in to both secure good jobs and protect and enhance our Queensland lifestyle as we grow.”

Quotes from Treasurer and Minister for Trade and Investment Cameron Dick:

“The resilience of Queensland’s tourism industry to bounce back from the pandemic is remarkable and this $125 million per year over the next four years will help the Government achieve its ambitious ambitions to rebuild the sector even more .”

“Innovation is central to developing the jobs of the future in our state, and the new $150 million Queensland Venture Capital Development Fund aims to do just that.”

Quotes from Innovation Minister Stirling Hinchliffe:

“The future for our tourism industry is bright as Queensland continues to maintain our national leadership position as Australia’s premier holiday destination for domestic visitors.

“We are now focused on rebuilding our international markets and are determined not only to bring them back to pre-pandemic levels, but to grow them even more.”

“Queensland has recovered best and fastest from the pandemic than any other state, but we’ve always said we want to do a better job of rebuilding, and by securing these increased funds over the next four years, we’re helping TEQ to do that to support the industry.” only that.

“Better designed facilities for women and an inclusive sports infrastructure will give more Queenslanders the opportunity to participate in sports and other physical activities.

“We’re looking for shovel-ready projects to improve facilities for Girl Scouts and Girls’ Leaders, increase access to the community, and make work even easier for our amazing volunteers.

“SwimStart will make swim lessons accessible to 30,000 young children, serving low-income families with squeezed living costs and giving tomorrow’s swimmers a head start.”

“This $75 million in corner funding for venture capital and accelerator programs, complemented or augmented by the private sector, is all about creating the Queensland jobs of the future.

“This builds on the recent investment of $142 million in the Advance Queensland – Innovation for a Future Economy 2022-2032 roadmap – from last year’s budget.

“The roadmap increases investment to enable businesses to establish, stay and grow in Queensland and build a well-connected, inclusive and thriving innovation ecosystem.”

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