Maintained funding for Tourism Australia and industry development programs in the 2014-15 Federal Budget will ensure Australia’s largest service export sector continues to grow, according to peak industry association Restaurant & Catering Australia (R&CA).
R&CA CEO John Hart says the increased funding for Tourism Australia announced in tonight’s budget along with commitments to Australia Week in China and the return the T-Qual Accreditation Programme to industry demonstrates the Government’s understanding of the economic importance of the sector.
“Australia’s tourism and hospitality sector is the country’s largest export services sector, contributing $128 billion to the economy each year. Tourism is tipped to be one of the world’s fastest growing sectors by 2033, growing 10 percent faster than global gross domestic product. With an annual growth rate of 4 percent, the sector will more than double over the next two decades,” said Mr Hart.