In an effort to lure tourists away from Hobart, the state government has launched a new $50 million tourism loan scheme to encourage innovation and support existing operators.
Premier Jeremy Rockliff announced the scheme will provide concessional loans ranging from $100,000 to $3 million for businesses looking to invest in rural and regional tourism.
“To the 12 months to March, three and a half billion dollars were spent in Tasmania by visitors. That’s 1.28 million visitors to Tasmania,” he said.
“We need to keep investing and keep supporting innovators and people that are prepared to take risks, put their money where their mouth is and invest in iconic tourism and luxury accommodation and tourism and visitor economy initiatives.”
“Part of the criteria means you have to be 15 kilometres outside of the capital city, that therefore ensures that we’re injecting those funds and that support to our tourism businesses across regional Tasmania, supporting jobs in regional Tasmania and supporting our regional Tasmanian economy.”
Kim Robinson, managing director of The Cove in Northern Tasmania, said they were “very, very fortunate” to have received a government loan in the past.
“That’s enabled us to, along with some of our own money, to build and incorporate a restaurant, cafe, five new accommodation options and offices and a corporate space as well,” she said.
“So we wouldn’t be doing that if it wasn’t for the help of the state government … I think the bank of [my husband] Bruce might have been shut well and truly before we even came up with the idea.”
Tourism Industry Council of Tasmania CEO Amy Hills said the strength of the Tasmanian tourism brand relies on the availability of high-quality products and experiences.
“Really great things like agri-tourism experiences, like authentic Tasmanian experiences,” she said. “[Things] you can only get them here and when you come, you know what they are.”
“This program is a great program to help give those operators a little bit of a leg up to help make some of those dreams a reality.”
Those that take up the scheme will secure their five-year loans with a freehold property and repay at an initial 3.85% variable interest rate, which will later convert to a commercial rate.
