NSW Visitor Economy Taskforce report

Minister for Tourism, Major Events, Hospitality and the Arts, George Souris, said the report provides a blueprint for the NSW Government and industry to work together to reinvigorate one of the State’s most important industries. 

“Our target to double overnight visitor expenditure to NSW by 2020 would mean a $36 billion boost to the State’s economy,” Mr Souris said. 

“It’s a goal we are determined to achieve as part of our plans to rebuild the NSW economy.  

“The Visitor Economy Taskforce has given a straight and honest assessment of the State’s tourism industry. 

“The London Olympics are a timely reminder of how complacent NSW has been since Sydney hosted the Olympics in 2000 - getting back on top will be very difficult. 

“The Taskforce has clearly identified that the way forward is more than demand driven or a clever advertising campaign.

“It will require a focus on the supply side including essential tourism infrastructure. 

“Like so much of our economy our tourism future very much lies in Eastern markets, the foremost being China.

“The NSW Government has begun some of the work laid out in the report, including the project to deliver the world class Sydney International Convention, Exhibition and Entertainment Precinct and the establishment and funding of Destination NSW. 

“Destination NSW is notching up an impressive list of major event wins as well as securing increased international air capacity to NSW from key markets in Asia. 

“We will now develop a whole-of-Government response to the report by the end of the year.” 

Mr Souris said the Government is determined to rebuild the NSW economy by supporting tourism, business and major events. 

“Visitor expenditure in NSW alone contributes over $20 billion to the State's economy, supports more than 159,000 jobs and over 96,200 businesses,” Mr Souris said.

“But our visitor economy is much bigger when you take into account the flow-on benefits it has on the broader economy through employment, investment and export growth, for example.   

“Already the Government is working to target new growth in our visitor economy with the 2012-13 NSW Budget committing $125 million a year to Destination NSW's activities for the next four years to help rebuild the NSW economy by supporting tourism, business conferences and major events.  

“For example, Destination NSW will invest more than $2 million in the coming year alone to target the extraordinary growth in visitor numbers from China, which is currently worth $1.2 billion to the State’s economy and forecast to increase 110 per cent by 2020.  

“The NSW Government will be providing a full response to the Visitor Economy Report that not only maximises the economic benefits of the international visitor economy for our global city, Sydney, but, just as importantly, our regional communities. 

“Almost half of our tourism jobs reside in the regions together with some of our strongest visitor economy assets.” 

The Visitor Economy Taskforce comprised Russell Balding AO, The Hon. Bruce Baird AM, John King OAM, and Sandra Chipchase, CEO of Destination NSW. It consulted widely with industry and held several regional workshops. 

Copies of the report are available at business.nsw.gov.au/vet