The funding will help businesses within the sector improve visitor experience and is designed to create new jobs and benefit regional communities.

The main aspect is a $150 million Regional Tourism and Events Fund supporting new events, attractions and more accommodation for visitors. The fund includes:

• $70 million for Regional Events (previous examples include Kings of Leon in Mildura, Foo Fighters in Geelong, the Elvis exhibition at Bendigo Art Gallery)
• $60 million for Regional Tourism Infrastructure, supporting tourism businesses like wineries, breweries and distilleries to add offerings such as accommodation
• $10 million to Grow Food and Fibre Exports by assisting Victorian primary producers and encouraging more Australians and international markets to buy Victorian
• $5 million for Regional Tourism Industry Development to help deliver skills, workforce and capacity for regional tourism businesses
• $5 million for Regional Multi-Cultural Festivals across regional Victoria such as Tet, Chinese New Year and Nyepi.

A further $20 million is allocated for regional tourism marketing, which is still subject to consultation and engagement with industry.

Another fund is also established to increase the supply of workers’ accommodation in regional Victoria by supporting tourism and hospitality businesses to attract and retain staff and reduce pressure on the rental market.

The $150 million Regional Worker Accommodation Fund will provide grants for projects that increase the supply of workers’ accommodation in regional Victoria.

Premier Daniel Andrews said: “Our investment will continue to showcase everything that regional Victoria has to offer – creating new jobs and attracting more visitors from across Victoria, Australia and the world.”

It was recently revealed Victoria’s visitor economy broke records, with visitor spend for the year ending March 2023 hitting $35 billion, surpassing the 2019 peak of $32.5 billion.

Victorian Chamber advocacy

As noted in the Victorian Chamber’s 2023-24 State Budget submission, the Victorian Government must provide adequate funding and long-term planning to ensure economic recovery to pre-pandemic levels not just in the short term but for future generations – now more crucial in the disappointing aftermath of the 2026 Commonwealth Games cancellation.