THE CARAVAN Industry Association of Australia has identified a strong, sustainable surge in caravan park visits and occupancy.

Caravan Industry Association of Australia CEO Stuart Lamont said over the weekend many Australians were once again able to explore "our great country".  For many residents, this was the first taste of overnight freedom in months and fell over the Queen’s Birthday Long Weekend in some states.  

Weekly accommodation data for the Caravan Industry indicates a strong resurgence is already taking place, highlighting the rapid uptake and potential to lead the path to recovery for the regional Australia visitor economy.

Cabin occupancy around Australia increased by 61 percent last week, compared with the week previous. This was on the back of a lifting of restrictions in many states with NSW seeing the largest week-to-week increase of 185 percent. Victoria also saw a more than doubling of cabin occupancy, up 105 percent. These two states were assisted with a long weekend.

South Australia was the national leader in terms of cabin occupancy, a 42 percent increase from the previous week – noting that intrastate travel restrictions had eased earlier in South Australia.

Powered site occupancy around Australian caravan parks increased by 109 percent  last week, compared with the week previous. NSW saw a quadrupling in occupancy which led all states, with Victoria seeing a 150 percent increase. In a similar fashion to cabins, South Australia topped the states with occupancy for powered sites (31%) exceeding for the week beginning June 1.

Mr Lamont said, “As anticipated, movement of Australians getting back out on the road has begun and is gaining quick momentum again.

“Whilst many Australians still care to dream and are desiring a local getaway our caravan parks and amazing camping ground options are plentiful and are attracting many of us to hit the road. Coming from ground zero, this early data shows real green-shoots are occurring in caravanning which is now driving our tourism industry forward,” Mr Lamont said

“Travel intention remains high, with 80 percent of Caravan Industry Association of Australia’s consumer audience indicating they would like to take a trip in the next two months.”

"Caravan and camping holidays are a fun and safe way to reconnect with friends and family, nature, and the wonderful country we live in.  They also act as the lifeblood for many regional communities throughout the country."

www.caravanindustry.com.au

The Caravan Industry Association of Australia is the peak body for caravanning and camping industry, a $23.3 billion industry that manufactures 23,000 vehicles per annum, services over 700,000 vehicles on the road, generates 12 million trips and creates 60 million visitor nights across the country.

ends

WEALTHY migrant investors could provide a vital source of funding to support universities and the return of international students, leading wealth manager Atlas Advisors Australia has claimed.

Atlas Advisors Australia executive chairman, Guy Hedley said universities, jobs and vital research projects were being unnecessarily put at peril because of a failure to look at smarter, more sustainable funding alternatives.

Mr Hedley said the Australian Government’s current review of the Business Innovation and Investment Program (BIIP) was an opportunity to enhance the economic and social outcomes of the program by directing more funds towards priority sectors such as universities.

“The complying investment framework of BIIP should be restructured to give priority to high net worth migrant investors who can provide a rich, long-term source of funding,” Mr Hedley said.

“Reopening applications under the BIIP could immediately unlock millions of dollars in available funds to support universities to recover and grow in a post-COVID-19 economy.”

Mr Hedley said revamping the BIIP complying investment framework to channel more funds towards critical research, positions and projects matched the strategic focus of universities and the Australian Government towards international education.

“The Australian Government and universities aim to increase the $37.6 billion contribution that international education made to the Australian economy last financial year,” Mr Hedley said.

“Wealthy migrant investors could play a greater role in making up for the loss of international students and strengthening the capabilities of our universities to build better ties to the rest of the world.

“It could also lead to more university endowments, another growing source of stable revenue.”

University-focused venture capital fund Stoic Venture Capital has united with Atlas Advisors Australia to call for greater funding under the BIIP for universities and venture capital.

Stoic Venture Capital managing partner for investments,Geoff Waring said the BIIP complying investment framework should be also revamped to increase funding for early stage venture capital and to assist the commercialisation of university innovation.

“Many Australian startups that could go on to become industry leaders have emerged from research conducted in university laboratories,” Dr Waring said. 

“Revamping the complying investment framework to prioritise capital constrained companies rather than to support more mature companies and assets reconfigures immigration policy to address the gaps in capital markets.”

About Atlas Advisors Australia

Atlas Advisors Australia is a leading funds manager and investment advisory business, operating between China and Australia, offering a wide range of financial services and wealth management solutions. With operations in Sydney and Melbourne in Australia and Shanghai in China, Atlas is able to support investors in China and Australia locations.

About Stoic Venture Capital

Stoic Venture Capital provides financing for early-stage companies, particularly those arising from university research. Stoic is unconditionally registered as an Early Stage Venture Capital Limited Partnership (ESVCLP), taking a collaborative approach to investing in the highest potential companies.

ends

THE Indigenous Affairs Committee will hear from the National Indigenous Australians Agency (NIAA) and the Australian National Audit Office (ANAO) at the first public hearing for its inquiry into food prices and food security in remote communities.

Committee chair Julian Leeser MP said that the Committee looked forward to discussing the current policy frameworks with these key agencies.

“As the national Indigenous policy agency, NIAA will play a central role in formulating the government’s approach to dealing with this issue,” Mr Leeser said. “The ANAO has conducted detailed audits of government activities and initiatives in remote food security. Both of these witnesses have valuable insights and expertise to bring to the inquiry.”

Public hearing details

Date: Thursday 11 June 2020
Time: 11.35am to 12.55pm

A full program will be available at the inquiry website.

Due to social distancing requirements at Parliament House, members of the public will not be permitted to attend the hearing. An audio broadcast will be accessible at https://www.aph.gov.au/Watch_Read_Listen.  

For more information about this inquiry, including its terms of reference, details of upcoming public hearings, and instructions on making a submission, please visit the Committee’s webpage.

ends

THE Queensland Resources Council has repeated its call for the Palaszczuk Government to match the LNP Opposition commitment to a 10-year freeze on all resource royalties.

QRC chief executive Ian Macfarlane said the industry noted the Palaszczuk Government’s commitment today to a five-year freeze for new petroleum royalty arrangements, following its earlier commitment to freeze the rate and threshold for coal and metal royalties for three years.

“The government has recognised that stable royalties provide greater investment and employment certainty for the resources industry.  The LNP promised 12 months ago, if elected, it would stabilise royalties for 10 years,” Mr Macfarlane said.

“The resources sector has been paying more than $5 billion in royalties to the Queensland Government to reinvest in services and infrastructure for all Queenslanders.

“The role of the resources sector is even more important to Queensland with COVID-19’s impact across the state’s economy. The resources sector employs one in seven jobs in Queensland and it contributes more than $220 million to the State’s economy each week," he said.

“The last royalty increase, under the Newman Government in 2012, compounded the regional impact of a global downturn in commodity prices and led to a significant reduction in resource investment and jobs.

“QRC welcomes the use of actual sales rather than an index for calculating gas royalties and the lower rates the model will offer for domestic production.”

Mr Macfarlane said QRC would have preferred the Queensland Government to continue dialogue with the gas industry to better inform the development of the new petroleum royalty arrangements.

“QRC will continue to work with its gas members to ensure the government’s new royalty arrangements are workable and do not detract from their planned investment and employment, particularly in the COVID-19 recovery,” he said.

www.qrc.org.au

ends