New loan scheme to encourage more visitors to regional Tasmania

Will Hodgman, Premier
Minister for Tourism, Hospitality and Events

12 July 2017

Tourism is booming, but we need to make sure our visitors have a great experience here, wherever they stay.

That's why we have established a new low interest loan scheme to support the upgrade of accommodation businesses that are ready for revival, particularly in regional Tasmania.

While visitor numbers have increased right across the State, including by 12 per cent on the East Coast, 11 per cent in the North, and 7 percent on the Cradle Coast, we can help to maintain this growth by ensuring the standard of accommodation is in line with visitor expectations.

The $20 million low-interest loan scheme will make available concessional loans of between $50,000 and $1.5 million, to eligible businesses. The loans will be issued at the concessional rate of 3.26 per cent.

The scheme will be available for established accommodation businesses, and is limited to council approved accommodation providers.  Homes and shacks that are part of the sharing economy will not be eligible.

The Tourist Accommodation Refurbishment Loan Scheme (TARLS), which was developed by the Coordinator General, fits within a key aim of our strategic plan with industry, T21, to invest in tourism infrastructure to grow the visitor economy.

For more information on TARLS visit www.cg.tas.gov.au