Victorian budget cuts $285 million in funding for major events and tourism promotion

May 7, 2024

Finance / Government / Sport / Tourism / Venues /

Victorian Treasurer Tim Pallas has revealed the state’s 2024/25 budget which will see a drop in investment for major events and tourism with $183.8 million to be spent next year compared to a current $469 million.

Facing rising state debt, which will climb to $188 billion despite cuts, a number of programs will be delayed including the Melbourne Airport Rail project.

Treasurer Pallas' 10th budget will see Visit Victoria’s destination marketing budget cut to $32.5 million over four years.

Despite the cuts, Victoria's leading cultural institutions will benefit from $128.4 million in funding, in addition to the $1.7 billion investment in the Melbourne Arts Transformation Project.

This investment also includes $1.72 million for Geelong’s Nyaal Banyul Geelong Convention and Event Centre, set to open in 2026, and $6.5 over four years for the Victorian Festivals Package.

The state’s key sporting centres - from Kardinia Park, the Melbourne Sports and Aquatic Centre, the State Netball and Hockey Centre and the Victorian Institute of Sport - will also receive $90.4 million in funds.

$17.5 million will also be spent on local clubs to improve ovals, pavilions, courts and changerooms.

This includes the continuation of our Local Sports Infrastructure Fund, alongside basketball hubs in seven locations across Victoria, and the popular Country Football and Netball Program - a longstanding partnership between the AFL, AFL Victoria and Netball Victoria.

Commenting on the budget, Victorian Minister for Tourism, Sport and Major Events and Minister for Outdoor Recreation, Steve Dimopoulos stated “local tourism is the lifeblood of communities right across the state - this Budget builds on our record investments to make Victoria a better place to live, work and visit.

“Whether it’s taking in one of our epic major events or a weekend away with friends, our state has so much to offer.”

Image: The new Victorian budget includes funding for Geelong’s Nyaal Banyul Geelong Convention and Event Centre, set to open in 2026.

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