Tourism projects get funding boost in NT
Opportunities for commercial property investment in the Northern Territory could soon rise as a ...
Opportunities for commercial property investment in the Northern Territory could soon rise as a number of tourism projects are given a funding boost.
Tourism minister Malarndirri McCarthy revealed that $311,320 would be shared between several projects in the area in an attempt to help them develop new products and revitalise their offerings.
She commented: "The fund provides matched funding of up to $30,000 plus GST for initiatives that contribute to the sustainable growth of the Territory's tourism industry through market diversification, product differentiation and business innovation."
Such high investment in the tourism sector is likely to prove a strong allure for investors in commercial real estate hoping to take advantage of any new opportunities that arise.
Qantas recently announced that it was reducing its number of flights to the Northern Territory, which Ms McCarthy believes could have major implications for tourism.
Central Australia is an important part of the country's tourism industry as a whole, especially as many people visit with the intention of seeing Uluru and other key destinations.
Culture also remains high on the list of people holidaying in Australia, she added.