Funding

The challenges around managing tourism growth are writ large in the Productivity Commission’s inquiry into local government funding and financing.

Taupō’s Great Lake Trail has been granted $245,000 for a 15km extension to help improve safety and promote the region as a cycling destination.

The industry has called on the government to spend revenue raised from the new international visitor tax wisely, and ensure the circa $80m a year remains an additional – not replacement – funding source.

Auckland International Airport has added $150m of firepower for infrastructure investment to its books following this week’s bond issue.

Auckland International Airport has today hit the market with up to $175m six-year fixed rate bonds as its $2bn infrastructure investment programme continues apace.

Auckland International Airport is eyeing the retail bond market to raise funds as it ploughs on with its $2bn investment programme.

Southland is the big winner securing almost $6m from the second round of the Tourism Infrastructure Fund.

Davis will not consider returning a portion of GST revenue earned from international visitors back to the tourism industry, says Regional Tourism New Zealand.

Another $60K has been granted towards Otago’s economic development strategy.

An inquiry into local govt funding will also look at how the impact of booming tourism can be managed.

Rotorua Lake Council has been granted $811,625 from the PGF for two ‘Big Moves’ projects.

The gulf between the benefits of tourism to government and the deficit that sits with local councils has been highlighted in a new report.

It took two years of planning, lobbying and engagement but Tourism Bay of Plenty got its destination management funding plan over the line.