Overall, given the significant challenges facing the global economy and a climate of uncertainty, the federal budget is solid. Included is a $4.2 billion surplus in 2022-23, which provides much-needed confidence to markets and secures greater resilience. However, it should be noted that the surplus comes off the back of higher taxes and Australia will return to a deficit in 2023-24.
At its core, the budget seeks to provide much-needed cost of living relief, with several commitments aimed at delivering support for Australians and small businesses. The tourism industry welcomes any measures that boost consumer confidence and reduce operating costs.
Although the budget on a whole is solid, it is disappointing to note that price increases have been introduced for both the Passenger Movement Charge and visa applications. As we enter a highly competitive market, in which governments around the world are grappling for the international tourism dollar, any measures that bring about an increase in travel costs are unfortunate.
QTIC will continue to work with other industries and all levels of government to advocate for and secure a robust operating environment for Queensland tourism businesses.
Brett Fraser
QTIC CEO
