TTF requests the Federal Government to put $7.7BN tourism rescue package into practice

Published on : Monday, February 22, 2021

The core of the rescue package, dubbed by TTF as the ‘Tourism Employee and Asset Maintenance (TEAM) program’, is an application for targeted assistance of between $1,000 to $1500 per fortnight for each employee of qualified businesses with a 30 per cent to 50 per cent or more decline in their 2019 turnover.

The TEAM rescue package proposal is worth $7.74 billion, covering from 1st April 2021 to 31st December, 2021, and reviewed quarterly.

If this program is implemented, the tourism industry of Australia has a chance to regrow to 75 per cent of its 2019 employment statistics. It would also save 318,000 jobs, as per the TTF.

Stafford Strategy conducted the economic modeling for the TTF projects that without post-JobKeeper support, the local tourism during 2020 due to COVID-19 lost 506,000 full-time job positions is facing potential loss, with over 300,000 jobs across the country.

To quote Margy Osmond, the TTF chief executive, “Of those job losses, the bulk will be shed in our three most populous states with 118,000 in NSW, 85,300 in Victoria and 59,700 jobs in Queensland.”

“These sorts of additional job losses will be dire for the tourism industry which, after hemorrhaging tens of billions of dollars in 2020, has just lost another $6.8 billion over the peak summer holiday period with a string of domestic border closures following the Sydney Northern Beaches outbreak.”

“Without this targeted, industry-specific support, there may not be a tourism industry left at the end of this year. Tourism is uniquely affected by government decisions relating to borders, and while other sectors and non-tourism related confidence may be rebounding, our tourism, transport, aviation and creative industries are still being crippled by government policy decisions.”

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