THE Victoria Events Industry Council (VEIC) has welcomed the Andrews Government’s announced Victorian Visitor Economy Review for the benefit it will bring to the events industry.

“Victoria’s celebrated business, sporting and cultural events are an important part of our state’s $19 billion tourism sector and it is positive that the spotlight is on opportunities to further capitalise on this growth industry,” said VEIC Chief Executive Dianne Smith.

“Victorian businesses throughout our state are keen to collaborate further on events with government and we are confident that this review will highlight innovative opportunities for this.”

Ms Smith’s comments follow the Andrews Government’s announced Victorian Visitor Economy Review, which will study events in Australian and international cities, along with a review of Victoria’s relevant government bodies, to ensure Victoria retains its status as the events capital of Australia.

“Business and government absolutely need to continually work hard to make sure we get the greatest return possible from this thriving and important industry,” said VEIC Chair Peter Jones.

“It is a competitive market and many events, such as this week’s Formula 1 Australian Grand Prix, are highly sought after by competing destinations.”

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The Victoria Events Industry Council (VEIC) is the peak body for Victoria’s events industry, providing one united industry voice. Major Events contribute over $1 billion to Victoria’s economy every year, creating jobs and underpinning Melbourne’s status as one of the global sporting capitals and the World’s Most Liveable City.


vtic.com.au

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THE Australian Retailers Association (ARA) said the seasonally adjusted rise (0.4 percent increase) in monthly retail trade figures (month-on-month) reported today by the ABS followed a 0.2 percent rise in December 2014.

ARA Executive Director Russell Zimmerman said retailers reported strong sales in the first week of January but experienced a tougher trading environment towards the end of the month.

“Boxing Day was huge for retailers this year and many consumers carried on bargain hunting well into the first half of January.

“Department stores struggled during December, but come January, it seems effective promotions were successful in drawing people in-store.

“While food retailing suffered during January (-0.7%) due to consumers often being away from home and choosing to eat out instead, the cafes, restaurants and takeaway food services sector enjoyed a nice boost in sales (2.0%). As always at this time of year, Aussies are out and about socialising with friends and family at their local eateries. 

“With many consumers returning to work from their Christmas holiday towards the end of January, there was a natural drop in discretionary spending which unfortunately impacted the clothing, footwear and personal accessory sector (0.1%).

“It will be interesting to see the results of February retail sales when this information is released next month, as Valentine’s Day usually provides retailers with another welcome boost in sales,” Mr Zimmerman said.  

In seasonally adjusted terms the states which displayed rises were Queensland (1.2%), Victoria (0.5%), Tasmania (1.9%) and Western Australia (0.1%). New South Wales was relatively unchanged (0.0%). There were falls in the Australian Capital Territory (-1.9%), the Northern Territory (-1.8%) and South Australia (-0.1%). 

MONTHLY RETAIL GROWTH (December 2014 – January 2015 seasonally adjusted)

Department stores (2.2%), Cafes, restaurants and takeaway food services (2.0%), Other retailing (1.0%), Household goods retailing (0.7%) Clothing, footwear and personal accessory retailing (-0.1%), Food retailing (-0.7%) and Total sales (0.4%).

Tasmania (1.9%), Queensland (1.2%), Victoria (0.5%), Western Australia (0.1%), New South Wales (0.0%),  South Australia (-0.1%), Northern Territory (-1.8%) and Australian Capital Territory (-1.9%). Total sales (0.4%).

YEAR-ON-YEAR RETAIL GROWTH (January 2014 – January 2015 seasonally adjusted)

Household goods retailing (8.7%), Cafes, restaurants and takeaway food services (5.0%), Clothing, footwear and personal accessory retailing (3.0%), Food retailing (2.2%), Other retailing (1.1%) and Department stores (1.1%). Total sales (3.5%).

New South Wales (5.2%), Victoria (3.6%), South Australia (3.1%), Queensland (2.4%), Western Australia (2.1%), Tasmania (1.9%), Australian Capital Territory (1.7%) and Northern Territory (-2.0%). Total sales (3.5%).

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Since 1903, the Australian Retailers Association (ARA) has been the peak industry body representing Australia’s $265 billion retail sector, which employs over 1.2 million people. The ARA ensures retail success by informing, protecting, advocating, educating and saving money for its 5,000 independent and national retail members throughout Australia.

Visit www.retail.org.au or call 1300 368 041.

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FEDERAL Parliament’s Public Accounts Committee will hold a public hearing this Friday as part of its review of an Australian National Audit Office (ANAO) report on the Regional Development Australia Fund (RDAF).

The Department of Infrastructure and Regional Development, and the ANAO will appear as witnesses.

Committee Chair, Dr Andrew Southcott MP, said that a number of issues in the report required further public scrutiny, with RDAF involving a significant outlay of public funds.

“The ANAO report emphasised there was not a clear trail through the assessment stages to demonstrate that the projects awarded funding were those with the greatest merit in terms of the published program guidelines. The ANAO also noted that the department had not implemented recommendations from a previous audit of the first RDAF funding round,” Dr Southcott said.

“The report concluded that there needs to be greater adherence to published program guidelines and identified principles of better practice grants administration, and that decisions need to be made in accordance with the public interest and without regard to party political considerations.”

The RDAF was established in 2011 as a nationally competitive, merit-based grants program. Four funding rounds were delivered between 2011 and 2013, with some $226 million in grant funding being awarded to 121 projects under the third and fourth rounds. The ANAO’s findings and recommendations are set out in Report No. 9 (2014-15), Design and Conduct of the Third and Fourth Funding Rounds of the Regional Development Australia Fund.

Details of the hearing are as follows:

Friday, 6 March 2015 – 9.30am to 11.30am

Committee Room 2R1, Parliament House, Canberra

Further information about the inquiry, including the program for the hearing and copies of submissions, can be accessed via the Committee’s website at www.aph.gov.au/jcpaa.

The hearing will also be streamed live at http://www.aph.gov.au/News_and_Events/Watch_Parliament.

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THE Reserve Bank of Australia’s (RBA) decision to keep the cash rate on hold today at 2.25 percent will support the retail industry for the time being but additional cuts are likely to be necessary.

The Australian Retailers Association (ARA)  Executive Director Russell Zimmerman said the current period of stable interest rates is a positive sign for both business and consumers.

“While the stable cash rate has positively impacted consumer spending, both the Federal Government and RBA must now do all that they can to ensure that retail trade is fully supported.

“Unfortunately, we have seen some concerning data lately including low wages growth and a weak international environment which has left consumers and businesses feeling a little nervous. The ARA therefore encourages the government to prioritise real productive reforms and for the RBA to consider further rate cuts next month to maintain consumer confidence,” Mr Zimmerman said. 

Since 1903, the Australian Retailers Association (ARA) has been the peak industry body representing Australia’s $265 billion retail sector, which employs over 1.2 million people. The ARA ensures retail success by informing, protecting, advocating, educating and saving money for its 5,000 independent and national retail members throughout Australia.

Visit www.retail.org.au or call 1300 368 041.

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