Australia: Regional Tourism Investment Fund 2024

The RTIF promotes partnerships between the Victorian Government, Local Government Authorities (LGAs), Alpine Resorts Victoria (ARV) and the broader tourism sector including private operators, not-for-profit organisations, Traditional Owners and Aboriginal organisations.

The RTIF is underpinned by the Department of Jobs, Skills, Industry and Regions’ (the Department) priorities of driving a strong and resilient economy that benefits all Victorians – by creating more opportunities for people through jobs and skills, supporting businesses and industries to grow and prosper, and building vibrant communities and regions.

Objectives 

The objectives of the RTIF are to:

• Deliver strategic tourism infrastructure and accommodation projects that will increase visitation, improve quality of visitor experience, and increase length of stay
• Deliver projects that broaden Victoria’s tourism offering, and support and encourage year-round visitation and dispersal across regional Victoria
• Leverage and facilitate private sector investment, including through strengthening public tourism infrastructure
• Drive new jobs and improved outcomes for the State’s visitor economy

Investment Priorities

Activities funded through the RTIF must support the delivery of the outcomes identified in EV33. These seven guiding principles will inform decision making:

• Driving economic growth – Victoria’s visitor economy attracts more visitors to the state who stay longer, produce higher yield, and be more likely to return.
• Innovative and outstanding – Victoria pushes the boundaries and transforms original ideas into brilliant businesses, exciting products and events and ultimately, a richer experience for visitors.
• Sustainable and regenerative – Victoria’s visitor economy creates experiences that stand the test of time by protecting and enhancing the extraordinary landscapes and biodiversity.
• Inclusive and welcoming – Victoria’s visitor economy delivers meaningful experiences and employment for people of all identities, cultures and abilities.
• First Peoples focused – Victoria’s First Peoples are self-determining their priorities for tourism development, creating wealth and contributing to positive outcomes for their communities and Country.
• Valuable for the communities – The tourism investments align with the plans and aspirations of local communities and generate positive benefits for local communities.
• Unique to place – The tourism products build on the different signature personalities of the suburbs, towns, cities and regions.

Project types Eligible for Funding

• Stream 1 – Small-scale projects: between $100,000 and $1 million (excl. GST) for new small infrastructure or enhancements to existing infrastructure that builds on the current visitor experience.
• Stream 2 – Large-scale projects: between $1,000,001 and $5 million (excl. GST) for new infrastructure that supports visitor experience.
• Stream 3 – Accommodation Uplift: between $500,000 and $2,000,000.
• Examples include:
  • Stream 1:
    • Enhancement to a cellar door
    • Extensions to wildlife sanctuaries
    • Smaller-scale accommodation options, such as new on-site eco-pods
    • Development of interpretive garden, parks, cultural works
  • Stream 2:
    • Major extensions to a restaurant dining area that increases seating capacity
    • Extensions and/or redevelopment at a wildlife sanctuary
    • Development of a new museum or gallery
    • Construction of new accommodation offerings
    • Development of a new wellness retreat.
  • Stream 3:
    • Revitalisation of existing accommodation offerings to enhance the overall visitor experience and align with modern visitor expectations at an accommodation site.

Outcomes

• RTIF reflects the Victorian Government’s commitment to strengthening the visitor experience in Regional Victoria and will invest in projects that can demonstrate a commitment to achieving the following outcomes:
  • Regional Victoria has a strengthened pipeline of experience products and accommodation
  • Regions are developing a more compelling visitor offering
  • Regional accommodation is more attractive to visitors
  • Regional accommodation is more accessible.
• The longer-term outcomes of the RTIF are:
  • Investment in regional destinations is increasing
  • Regional destinations are attracting more visitors, getting them to stay longer and spend more
  • More international visitors are attracted to regional destinations
  • The visitor economy has an increased contribution to regional and Victorian economic growth.

Eligibility Criteria

• Grant applications for the Regional Tourism Investment Fund 2024 are open to:
  • specific interim entities that are recognised by Department of Jobs, Skills, Industry and Regions (DJSIR) as being part of the regional tourism network
  • projects in regional and rural Victoria.
  • projects in Victoria that provide tourism benefit.
• Applicants must be one of the following types of entities to apply:
  • private sector proponents (defined as a privately owned or commercial organisation that has overall control and responsibility for a project that is predominantly funded through private capital)
  • local and state government entities, based in Victoria including:
    • Public Land Managers
    • Land Management Authorities and Committees of Management
    • Local Government Authorities
    • A Victorian Alpine Resort (such as one of the 6 alpine resorts are legally incorporated under the Alpine Resorts (Management) Act 1997 and managed by Alpine Resorts Victoria).
  • State or Local Government owned entities
  • incorporated associations
  • not-for-profit organisations, including community groups that are an incorporated body, cooperative or association
  • Traditional Owner Corporations, organisations and groups, and Aboriginal owned businesses.
• In addition, to be eligible for funding applicants must:
  • possess an Australian Business Number (ABN)
  • provide audited financial reports for the past 3 years.

For more information, visit State Government of Victoria.