In an aim to assist in the COVID recovery around tourism, the South Australian Government has introduced a Tourism Industry Development Fund aimed at supporting and stimulating private sector investment in new and improved regional accommodation, and the development of quality tourism product and experiences.
Through the South Australian Tourism Commission, the State Government is committing $20 million to the Tourism Industry Development Fund over two years to support regional tourism in South Australia. There are two streams in the Tourism Industry Development Fund – Regional Infrastructure Projects, and Regional Product and Experience Development Projects.
The Tourism Industry Development Fund aims to:
- Improve tourism infrastructure and experiences that appeal to target markets.
- Grow economic benefit by encouraging increased visitor expenditure.
- Create new jobs and develop skills.
- Encourage further development by the private sector in infrastructure and visitor facilities.
- Encourage businesses to work collaboratively.
- Implement sustainable business practices.
Applicants can seek grants from $20,000 to $500,000 (excluding GST) with a maximum of 30 per cent State Government grant of the total project value.
Full details of this Fund are available at the SA Government Website, or please feel free to contact your 360Private Advisor to discuss further.