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Reopening to tourists and other international travellers to secure our economic recovery

Joint media release with the hon. scott morrison mp, the hon. greg hunt mp and the hon. dan tehan mp.

Australia will reopen to all fully vaccinated visa holders, welcoming the return of tourists, business travellers, and other visitors from 21 February.  

These changes will ensure we protect the health of Australians, while we continue to secure our economic recovery. 

Australia’s health system has demonstrated its resilience throughout the COVID-19 pandemic, including though the recent Omicron wave. With improving health conditions, including a recent 23 per cent decline in hospitalisations due to COVID, the National Security Committee of Cabinet today agreed Australia is ready to further progress the staged reopening of our international border. 

Visa holders who are not fully vaccinated will still require a valid travel exemption to enter Australia, and will be subject to state and territory quarantine requirements. 

Today’s announcement will give certainty to our vital tourism industry, and allow them to start planning, hiring and preparing for our reopening. In 2018-19, tourism generated more than $60 billion for the Australian economy, with more than 660,000 jobs dependent on the industry. 

Since the Morrison Government commenced Australia’s staged international border reopening on 1 November 2021 we have seen almost 580,000 arrivals come to Australia including to reunite with loved ones, work or study. 

The Commonwealth continues to work with States and Territories on the safe resumption of the cruise industry and looks forward to further announcements on this in due course.

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Australian actor Chris Hemsworth to star in Tourism Australia’s new coastal and aquatic campaign

Australian actor Chris Hemsworth will be the global ambassador for Tourism Australia's upcoming aquatic and coastal marketing push – the latest instalment of the Australian Government agency's global There's nothing like Australia campaign.

This is a huge win for Australian tourism and will help promote Australia internationally, particularly in the USA where the campaign will premiere in New York later this month.

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A new way to Discover Aboriginal Experiences

Link Copied!

9 March 2023

Tourism Australia is launching a new website dedicated to promoting the extraordinary Aboriginal guided experiences on offer around Australia that make up the Discover Aboriginal Experiences collective.

The new website brings together more than 160 experiences from over 45 businesses, all led by Aboriginal guides, together in one spot making it easier for users to search for what they are after, whether it be by the experience type, location or duration.

Tourism Australia Executive General Manager Corporate Affairs, Bede Fennell, said the organisation had an important role to play in promoting Aboriginal tourism experiences to travellers around the world.

“Our research across our key markets shows us the more we tell our Indigenous story and bring it to life the more interest there is amongst international travellers,” Mr Fennell said.

“That’s why we have a dedicated program that will not only help to educate travellers about the experiences on offer but make it easier for them to find the sorts of experiences they are after in the destinations they are planning to visit.”

“The Discover Aboriginal Experiences collective includes a wide variety of adventure, food and urban experiences right across Australia that can be integrated into any itinerary,” Mr Fennell said.

Tourism Australia’s Discover Aboriginal Experiences Executive Officer Nicole Mitchell said, “our promise to our Discover Aboriginal Experiences members is to raise the profile of what they offer and that’s exactly what the new website will help to do.

We want Aboriginal experiences to be an essential part of any trip to Australia where visitors engage with multiple tourism businesses to get a true sense of diversity of cultures and experiences on offer. The best way to do that is to make what’s on offer easy to discover and understand.

Ultimately by helping people to find an experience that fits into their plans we are also helping to drive a deeper connection and understanding of Aboriginal peoples and their cultures.”

Visit the new Discover Aboriginal Experiences website here . The collective is also launching new social media channels on both Instagram and Facebook and can be found via the handle @DiscoverAboriginalExperiences.

Discover Aboriginal Experiences website

Discover Aboriginal Experiences

Discover Aboriginal Experiences is a carefully curated selection of extraordinary Aboriginal-guided experiences. Each member in this collective is considered a leader in Aboriginal tourism, with over 160 experiences from over 45 businesses around Australia, all led by Aboriginal guides. Aboriginal guides aren’t just warm and welcoming; as the owners of the stories they share with you, they offer a means of connecting with Australian places and cultures quite unlike anything else you’ll find. With experiences spanning one-hour tours to multi-day odysseys, in both urban and regional locations, you’ll be sure to find a meaningful, fun and engaging Aboriginal experience.

We shine the light on our tourism operators that celebrate our contemporary and Indigenous heritage in a way that has a positive impact for community, culture and the environment.

For media enquiries, contact: Beau Mitchem -  [email protected] Nicole Mitchell -  [email protected]

Discover more

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Acknowledgement of Country

We acknowledge the Traditional Aboriginal and Torres Strait Islander Owners of the land, sea and waters of the Australian continent, and recognise their custodianship of culture and Country for over 60,000 years.

*Disclaimer:  The information on this website is presented in good faith and on the basis that Tourism Australia, nor their agents or employees, are liable (whether by reason of error, omission, negligence, lack of care or otherwise) to any person for any damage or loss whatsoever which has occurred or may occur in relation to that person taking or not taking (as the case may be) action in respect of any statement, information or advice given in this website. Tourism Australia wishes to advise people of Aboriginal and Torres Strait Islander descent that this website may contain images of persons now deceased.

AUSTRALIAN ASSOCIATED PRESS

Home to half of the world’s top 10 trending tourism destinations, asia pacific is making a comeback: mastercard economics institute on travel in 2024.

• Japan tops the trending list, welcoming a record-breaking 3M+ international arrivals in March
• While outbound travel from the Chinese Mainland continues to recover, now at 80% of 2019 levels, more Indians are traveling than at any time in history
• Travelers to APAC are vacationing longer while prioritizing experiences over purchases

SINGAPORE , May 16, 2024 /PRNewswire/ — The global travel sector is breaking boundaries in 2024 as consumer spending on tourism remains robust and passenger traffic soars, according to the latest report from the Mastercard Economics Institute (MEI). Released today, the MEI’s fifth annual report, “ Travel Trends 2024: Breaking Boundaries ” provides comprehensive insights into the evolving landscape of the travel industry across 74 markets, including 13 [1] in the Asia Pacific region (APAC).

Despite fluctuating exchange rates and varying levels of affordability, travel is booming, with nine out of the last 10 record-setting spending days in the global cruise and airline industries occurring this year [2] . Looking ahead, the MEI anticipates this momentum will continue as consumers around the world prioritize meaningful experiences and allocate more of their budgets to travel. 

Drawing on a unique analysis of aggregated and anonymized Mastercard transaction data, including Mastercard SpendingPulse™ and third-party data sources, the report takes a deep dive into key tourism trends for 2024 and beyond. Here in the Asia Pacific region, a few themes stand out, including: 

APAC destinations are trending in a big way, comprising half of the top 10 hot spots that have demonstrated the greatest momentum among travelers. This is measured and ranked by the change in share of tourism transactions over the past 12 months ending March 2024 .

• Japan emerged as the #1 trending destination worldwide (growing 0.9% vs Ireland at 0.4%), as it welcomed 3,081,600 visitors from abroad in March 2024 – the highest level ever – even before the peak travel season begins. Driven by a weak yen (the lowest since 1990), Japan’s favorable exchange rate is expected to help it remain the clear tourism frontrunner throughout 2024, benefitting Japanese businesses catering to tourists and the local economy overall.
• APAC passenger traffic is reboundin g , particularly for shorter, intra-regional trips. For example, this summer’s top destinations for travelers from Singapore include Bangkok , Kuala Lumpur , and Perth .
• Thailand tourism is expected to fully recover in 2024 , according to MEI, with total visitor arrivals now only 7% below 2019, pre-pandemic levels [3] . Notably, inbound flight traffic from South Asia and the ASEAN region is nearly 20% above 2019 levels.

“Consumers in the Asia Pacific region have an intense desire and willingness to travel and are becoming increasingly savvy to ensure they get the best value and unforgettable experiences from their trips,” said David Mann , chief economist, Asia Pacific , Mastercard . “For tourism authorities, retailers, the hospitality and F&B sectors, the bottom line is that costs matter. In today’s economy, foreign exchange rates and spending power have become vital components in driving a traveler’s assessment of value when they are making their plans. This suggests that businesses targeting tourism dollars need to review their current strategies, and shift them if necessary, to maintain their appeal to travelers.”

Summer holiday hot spots (June- Aug 2024 [4] )

While Japan was the top trending destination during the last 12 months [5] , looking ahead, Munich ranks as the #1 summer destination (in terms of share gain in flight bookings) due to its hosting of the UEFA EURO 2024 football championship in June. Tokyo comes in a close second while Bali (#6) and Bangkok (#7) are also among the top 10 cities where demand is gaining momentum in the next three months.  

Chinese Mainland Domestic Tourism Rebounds While Outbound Travel Continues to Recover

The Chinese Mainland’s travel dynamic has shifted, as more Chinese tourists prioritize domestic trips over international ones.

• The Chinese Mainland’s domestic tourism story is a positive one, as air passenger traffic has fully normalized and even exceeded 2019 levels, benefiting local businesses.
• Meanwhile, international tourism traffic leaving the Chinese Mainland continues to recover and is now at 80.3% of 2019 levels.
• Additional upside growth is expected in 2024, supported by visa exemptions in APAC and beyond, as well as an increase in international flight capacity, benefiting destinations such as Singapore , Malaysia and Thailand .

More Indians are Traveling Than Ever Before

Strengthened by a burgeoning middle class, additional route capacity, and a strong desire to travel, 2024 marks the year when more Indians are traveling internationally than at any time in history.

• In the first three months of 2024, 97 million passengers traveled through Indian airports. Just 10 years ago, the same figure would have taken a whole year to achieve.
• Domestic passenger traffic is up 21% compared to 2019 levels while international passenger traffic is up 4%, as of March 2024 .
• Indian travelers to key markets are up significantly in 2024 compared to 2019: 53% increase in visitors to Japan , 248% increase to Vietnam , 59% increase to the United States (notable as total overseas arrivals to the U.S. are still 7% below 2019 levels, largely due to the strong USD).

Leisure for Longer

• In APAC (excluding ANZ) in 2024, tourists are extending their trips by an average of 1.2 days to a total duration of 7.4 days, motivated by the affordability of destinations, warm weather, and favorable exchange rates. This compares to the 2019 average of 6.1 days per trip.
• In Australia and New Zealand (ANZ), overseas visitors are staying for an average of 5.4 days, an increase of 0.6 days compared to 2019.
• The APAC destinations with the longest increase in trip duration between 2019-2024 are India (+2 days), Vietnam (+2 days), Indonesia (+1.9 days), and Japan (+1.4 days), largely due to their lower growth in hotel prices during this period compared to other markets.
• Longer stays generally translate to more spend per trip too, which benefits local economies.

Thrill Seekers Want Experiences and Nightlife

Consumers globally continue to prioritize experiences over material goods. This is playing out in the travel sector as spending on experiences and nightlife totals 12% of tourism sales – the highest point in at least five years. Meanwhile, retail shopping is recovering at a slower pace.

• Australian tourists are the highest spenders globally on experiences and nightlife.
• In 2024, Aussies are spending one of every five dollars (19%) on these activities – significantly higher than the global average (12%).
• Tourists from the Chinese Mainland are also increasingly seeking out experiences, spending 10% on this category in 2024, up from 7% in 2023.

Casual Trumps Luxury for Fashion and Food  

Tourists today prefer laid-back vibes, except in spots where luxury retail and fine dining provide exceptional value for money.

• Notably, luxury fashion sales soared YoY in the year ending March 2024 in Japan (152%) and Hong Kong SAR (208%), despite casual fashion still leading the pack in most places.
• Hong Kong SAR’s surge is partly attributed to its late reopening in 2023, whereas Japan’s boom stems from a weak yen and robust inbound tourism.
• Australia , India , and Thailand now enjoy burgeoning fine dining scenes, leading to premium dining outperformance compared to casual dining, which remains dominant elsewhere.

“Amidst the evolving tourism landscape and continuing surge in travel throughout 2024, the Mastercard Economics Institute aids businesses and policymakers in translating macroeconomic forces and data insights into actionable strategies at the country, category, and company levels, in addition to counseling on possible scenarios and the implications they have on demand,”  added Mann .

Explore the full  Travel 2024: Breaking Boundaries report  here . Additional reports and insights from the Mastercard Economics Institute  can be found here .

About Mastercard Economics Institute  

Mastercard Economics Institute launched in 2020 to analyze macroeconomic trends through the lens of the consumer. A team of economists, analysts and data scientists draws on Mastercard insights – including Mastercard SpendingPulse™ – and third-party data to deliver regular reporting on economic issues for key customers, partners and policymakers.

About Mastercard (NYSE: MA) , www.mastercard.com  

Mastercard is a global technology company in the payments industry. Our mission is to connect and power an inclusive, digital economy that benefits everyone, everywhere by making transactions safe, simple, smart and accessible. Using secure data and networks, partnerships and passion, our innovations and solutions help individuals, financial institutions, governments and businesses realize their greatest potential. With connections across more than 210 countries and territories, we are building a sustainable world that unlocks priceless possibilities for all.

SOURCE Mastercard

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Australian tourists are outspending everyone else on one thing overseas

A recent report reveals that australian tourists lead global spending on experiences and nightlife during vacations..

The report found Japan is gaining popularity with Australian travellers due, largely, to the yen being near a 17-year low against the Australian dollar. Source: Getty / Zhang Peng/LightRocket

• Australian tourists spend nearly a fifth of their holiday budget on experiences and nightlife.
• A new report has found that Australian travellers prioritise experiences over retail therapy when abroad.
• Fiji, Bali, Tokyo, Queenstown, Kuala Lumpur, Manila, and Osaka have experienced tourism booms since the pandemic.

This country has beaten New Zealand to be the top travel destination for Australians

Can Ruby the kangaroo bring Chinese tourists hopping back to Australia?

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Australian federal budget 2024: what we know so far and what to expect

Treasurer Jim Chalmers has promised more cost-of-living relief in his 14 May budget as well as spending for students and health

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On 14 May the treasurer, Jim Chalmers, will deliver his second full-year budget.

Chalmers has promised more cost-of-living relief in a budget that he says tackles inflation but sets Australia’s economy up for growth – neither scorched-earth nor a free-for-all of spending .

Here’s what we know already about what is in the budget.

Tax cuts and cost of living

The biggest element of the cost-of-living relief in the budget is the changes to stage-three tax cuts, a $359bn 10-year tax cut package announced by Labor in January and legislated in February with opposition support.

The package means all Australian taxpayers (earning over the tax-free threshold of $18,200) get a tax cut, doubling the benefit for an average income earner compared with the Coalition’s original stage three proposal.

Labor says 84% of taxpayers are better off under its proposal, although those earning more than $146,486 would have received more under the Coalition’s model.

There will be other cost-of-living measures the government claims won’t add to inflation, which might point towards extending energy price relief .

Jim Chalmers has poured cold water on the Economic Inclusion Advisory Committee’s call for jobseeker to rise to 90% of the age pension, although he and the finance minister, Katy Gallagher, have seemed more open on increasing rent assistance. Chalmers has confirmed there will be “additional steps” on poverty reduction and “new initiatives for housing”.

Education, skills and Hecs

The government will wipe $3bn from student debts by indexing Hecs and Help debts to the lower of the consumer price index or the wage price index, backdated to June 2023.

The government will also pay student teachers, nurses, midwives and social workers $320 a week during their mandatory work placements , starting from July 2025. These two measures are aspects of the government’s response to the Universities Accord, but there will be more in the budget.

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The government has announced $90.6m to boost the number of skilled workers in the construction and housing sector, creating 15,000 fee-free Tafe places and 5,000 places for pre-apprenticeships.

School funding will also rise as the federal government negotiates with the states to cover the 5% funding gap, most recently offering to lift its share of funding from 20% to 22.5%. This is estimated to cost $6bn over five years, although Chalmers has been coy about whether estimates will be reflected in the budget or only be added after education and health agreements are finalised.

There is no question childcare workers will be receiving a pay rise in this budget – the only questions are how much and how it will be distributed. With the industry in crisis due to staffing shortages, which have been exacerbated by staff leaving to work in aged care after that sector’s pay rise win , the government is expected to make wage increases for childcare workers a centre piece of the budget.

But it’s unclear whether the government will pull the trigger on scrapping the activity test, which sets a subsidy rate based on employment. It has indicated it wants to get rid of the measure as part of its plan to make childcare in Australia “universal”, though it’s not clear whether it will happen in this budget.

Health and aged care

Public hospitals are expected to get more funding, as the federal government works to finalise a new five-year agreement with the states to start in mid-2025. The commonwealth has reportedly offered to lift funding by an extra $4bn in 2025-26 and $13bn over the whole five years.

The government is also increasing funding for its medical research future fund over 13 years, with $1.1bn for existing projects plus $150m million to investigate rarely survived cancers, and $150m towards reducing inequalities in the health system. A further $500m will go to other research schemes.

The government is also yet to outline its response to March’s aged care taskforce report , which suggested new ways to pay for the system – including asking Australians with more wealth to pay more for the cost of their care.

The health minister, Mark Butler, also announced $49.1m would go toward offering longer consultations of 45 minutes or longer for endometriosis sufferers.

Among a total of $15.4bn in “unavoidable spending” to continue programs from the previous government is money set aside for palliative care, cancer supports, public health chronic conditions, and alcohol and other drug treatments.

Defence and foreign affairs

The budget will confirm that Australia’s defence spending will increase from 2.1% of Australia’s economic output next financial year to 2.4% by 2033-34, driven by a range of big-spending projects including the Aukus nuclear-powered submarines.

There will be some cuts to programs, however, with the government announcing last month that it would free up about $73bn over 10 years by cutting, delaying or changing the scope of some defence projects.

Even after these cuts are taken into account, the government says it has committed a net increase of $50.3bn for defence over the next 10 years. This includes a net increase of $5.7bn over the immediate four-year budget cycle.

This immediate funding includes $1bn over the next four years for long-range strike, targeting and autonomous systems.

In foreign affairs, the government has promised $492m for the Asian Development Fund’s 2025-28 pledging round, to “help respond to the needs of the region and deliver transformative development projects across the Indo-Pacific”.

Infrastructure

So far, western Sydney is the biggest winner in infrastructure after the minister, Catherine King, announced $1.9bn in funding for 14 road and transport projects. Those include road upgrades, planning projects and extra money for a business case to extend the train line into the city’s south-west.

Cyclists will also get a boost with $100m being set aside to build and upgrade bicycle and walking lines in cities and regional centres.

Canberra will also get a $50m injection to extend its light rail line from the northern suburbs past Parliament House and into the city’s south.

The nation’s capital are getting a good deal because $249.7m has also been announced for Australian Institute of Sport as the 2032 Brisbane Olympics inches closer.

The quarter of a billion-dollar sum will go towards refreshing the ageing site with new accommodation, an all-weather sports dome and a new training centre.

Beyond Canberra, road safety data from the states and territories will also be better harmonised with a $21m funding announcement to set up a national data hub.

Future Made in Australia

The government has announced funding for a range of projects under its Future Made in Australia policy, which aims to directly support Australian industry and innovation, particularly in green energy. These commitments include:

$1bn for the Solar Sunshot production of solar panels in the Hunter

$1bn to PsiQuantum to build the world’s first fault tolerant quantum computer in Brisbane

$840m for Arafura’s rare earth metals production in the Northern Territory

An export agreement to sell armoured vehicles made by the German defence manufacturer Rheinmetall

$566m over 10 years for GeoScience Australia to map what is under Australia’s soil and seabed

$400m in new loans to Alpha HPA for Australia’s first high-purity alumina processing facility in Queensland; and

$185m to Renascor Resources to fast-track the development of stage one of its Siviour Graphite Project in South Australia; and

$100m to speed up environmental approvals, including assistance for business.

Gender equality

The government has committed $925m for the leaving violence payment, a payment of $5,000 to help meet the costs of leaving a relationship. The existing trial will be extended and the new permanent program available from mid-2025.

The government has also said that parents will receive 12% superannuation – or about $106 a week – on their publicly funded paid parental leave from July 2025, full costings for which will be in the budget.

Indigenous affairs

The government has not foreshadowed any new major spending commitments in the Indigenous affairs space, but the budget will contain details and funding for several large programs in that portfolio that were recently unveiled.

The Closing The Gap commitments from February, including a $700m remote jobs program, and March’s announcement of a $4bn remote housing program for the Northern Territory, are expected to be the major components of the Indigenous affairs portfolio. Most of the new commitments in Indigenous affairs are typically contained in February’s Closing The Gap document rather than the May budget.

Attorney General’s Department

The government has pledged $161.3m to establish the national firearms register , and $11m for an app alerting Australians in real time if somebody tries to use their data to commit fraud.

The government will invest $166.4m to implement reforms to Australia’s anti-money laundering and counter-terrorism financing regime.

• Australian budget 2024
• Australian politics
• Australian economy
• Jim Chalmers (Australian politician)
• Cost of living crisis
• Labor party

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Victorian government makes biggest venture capital investment yet — in space tourism

The Victorian government has invested $37 million from its Breakthrough Victoria venture capital fund in a US satellite imagery and space tourism company.

The company, Arizona-based World View, is selling tickets for near-space tourist flights from the Great Barrier Reef but has yet to receive approval for that venture.

The investment represents the fund's biggest bet and came  via an announcement made just days before Victorian Treasurer Tim Pallas released the state budget.

In March, 7.30 aired calls for the $2 billion fund to be wound up due to concerns about a lack of transparency, and uncertainty taxpayers will get a return.

According to Breakthrough Victoria, its $37 million investment in World View will see the company establish its Indo-Pacific headquarters in Melbourne and set up an advanced manufacturing facility in Victoria, creating up to 200 jobs in engineering, mission control and flight operations, and data and material sciences. 

Established in 2012, the Arizona-based company manufactures and operates remote sensing balloon systems called stratollites, which can launch up to 30 kilometres into the stratosphere.

According to World View, its near-space imaging technology has applications in agricultural, environmental and defence industries.

The company’s website lists seven international space travel destinations around the world including the Great Barrier Reef. 

In 2022, it had signed up 1,000 reservations for its balloon flights, which will take customers 30 kilometres above the Earth’s surface, and announced it was planning to start commercial passenger flights in 2024.

It had also previously announced it would commence commercial passenger flights in 2016. 

The company's latest plan is to start flying people to the stratosphere from the Grand Canyon in 2026. 

7.30 understands World View has not applied for regulatory approval for passenger space travel in Australia.  

However, World View is still allowing people to reserve $US50,000 ($75,000) tickets for space travel from the Great Barrier Reef with a $US500 deposit.

Hollywood star power

World View has recruited actor Adrian Grenier — best known for his role in television series Entourage — as its 'chief Earth advocate'.

Grenier spoke with the US Today show in 2022 about his excitement in being appointed to the role.

In 2017, World View teamed up with KFC to launch a burger into the stratosphere with one of its high altitude balloons. The mission was scheduled to take four days but according to media reports was aborted after 17 hours due to a small leak in one of the company's innovative new altitude-control balloon systems. 

World View was embroiled in a six-year legal battle after US conservative think tank Goldwater Institute, successfully sued Pima County for its investment in the company. 

World View secured a $US15 million investment from Pima Country in 2016 to set up its base in Tucson Arizona, and originally promised to deliver 400 jobs.  

However, Timothy Sandefur from the Goldwater Institute told 7.30 World View has only delivered a fraction of the 400 jobs it promised when securing funding from Pima County.  

"We sued the county for devoting taxpayer money to what they admitted was basically being an angel investor to this business. And we ended up winning," Mr Sandefur said.

"The court declared that the arrangement was basically a handout of government money to a private company and was unconstitutional.

"The county was forced to rearrange their agreement with World View in order to make it so that they weren't subsidising the company with government funding."

In December 2017, World View also captured the attention of US media after one its balloons exploded in an unmanned test flight at its Tucson site.

'Complete waste of money'

A leading economist and a mental health advocate have both questioned the Victorian government's priorities after the state budget released earlier this month included $23 million in cuts to cancer research, delays to mental health services and revealed the state’s debt is still growing . 

Venture capitalist and former chair of Mental Health Australia Matt Berriman told 7.30 Breakthrough Victoria should be shut down.  

“Are we try to be the Elon Musk of Australia now? It’s a complete waste of money, and should have been shut down a long time ago,” Mr Berriman told 7.30. 

Economist Saul Eslake said the latest Victorian budget has not done enough to rein in Victoria’s soaring debt, which is expected to hit $188 billion by 2028. 

"What it means in practice is that it is spending money on interest," Mr Eslake said.

"That's getting close to $10 billion per annum by the end of the four-year forward estimates period. That could otherwise be spent on hospitals, schools, community protection, policing, and other things that Victorians value."

In the latest Victorian budget, while $380 million was trimmed from Breakthrough Victoria over the next four years, the life of the fund was extended from 10 to 15 years. 

Mr Eslake has also called for the state government to shut down Breakthrough Victoria. 

"Playing venture capitalist is not what we expect state governments to do," he said.

"And for a state government that is under so much financial pressure … it does seem like a luxury the state can ill afford.” 

Director of Government Ratings at ratings company S&P Anthony Walker says while the intention of the government investment fund is to help develop businesses and grow the economy, it does come with risks.  

"Private equity is not something you play with lightly," Mr Walker said.

"It can lead to problems and we saw that in Victoria 20 or 30 years ago where it did do investment in these type of projects and didn't pay out.

"We are seeing other countries, Singapore is a great example, where they've done it and it's worked out well with them."

S&P downgraded Victoria’s credit rating from triple A to double A in December 2020. It has the lowest credit rating of any Australian state.

'World View to drive innovation'

Mr Pallas, Breakthrough Victoria and World View all declined 7.30's requests for interviews.

A spokesman for Mr Pallas said in a statement that the Victorian government is: "Proud of the work it is doing to drive Victoria's innovation and economic growth through investments in priority sectors like advanced manufacturing and clean energy."

A spokesman for World View said "there are many use cases and customer sets in the Indo-Pacific region that can benefit from the technology and services available from stratospheric high-altitude ballooning.” 

He also said that World View had hired some staff in Victoria, while a spokesman for Breakthrough Victoria said the investment would lead to job creation in the state.

"World View are building an advanced manufacturing facility which will ultimately employ up to 200 Victorians in diverse roles across engineering, data scientists, material scientists, and non-degreed skilled labour."

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2024 National Pharmacies Christmas Pageant returns home to Rundle Mall

Preparations are well under way for another wonderful edition of adelaide’s much beloved national pharmacies christmas pageant which will return to the streets of adelaide later this year..

The event’s 92nd edition will kickstart the festive season on Saturday 2 November at 9.30am and is set to wind through the city before Father Christmas completes his journey where it all began, in Rundle Mall.

National Pharmacies Christmas Pageant is the largest public street parade in the southern hemisphere.

In 2023 the free event broke all records attracting more than 320,000 people to the streets of Adelaide.

The National Pharmacies Christmas Pageant is a free community event.

Visit christmaspageant.com.au for more information.

Attributable to Minister for Tourism Zoe Bettison

This is an exciting signal that Christmas is fast approaching.

I am delighted South Australians can now start planning for the next National Pharmacies Christmas Pageant as we announce this year’s date for one of Adelaide’s much beloved family events.

This event is unique and special to South Australians, bringing huge crowds of all generations into the heart of Adelaide to launch festive celebrations and it follows the spectacular return of the event to the streets of Adelaide in 2023 when more than 320,000 people gathered in our CBD.

With this year’s pageant route finishing in Rundle Mall, I think we will see a special finish to this iconic event – it will be the perfect way to kick off the 2024 festive season while bringing a real boost to our local businesses in the Adelaide CBD.

Attributable to Brian Gilbertson, Director National Pharmacies Christmas Pageant

Preparations are well under way for another wonderful edition of the event in 2024.

We are ready to celebrate 92 years of festive magic in 2024 and look forward to sharing some exciting new additions with everyone too,” Mr Gilbertson said.

Returning to Rundle Mall is something we are looking forward to – it’s where it all began and a special way for us to honour National Pharmacies Christmas Pageant history.

We expect a big crowd eager to welcome Father Christmas to Adelaide and explore the city afterwards.

Attributable to Vito Borrello, Chief Executive National Pharmacies

We expect the 92nd National Pharmacies Christmas Pageant to share joy with the entire community once again.

The love everyone shows the National Pharmacies Christmas Pageant is incredible and being able to see the joy across the entire crowd on Pageant Day is something we look forward to every year.

There may still be a few more months until the event, but the countdown has started for everyone here at National Pharmacies. Our teams and our members are so passionate about this event, and it fills us with great pride for what we are able to help deliver each year.

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Strong geomagnetic storm reaches Earth, continues through weekend

NOAA space weather forecasters have observed at least seven coronal mass ejections (CMEs) from the sun, with impacts expected to arrive on Earth as early as midday Friday, May 10, and persist through Sunday, May 12, 2024. 

NOAA’s Space Weather Prediction Center (SWPC) has issued a Geomagnetic Storm Warning for Friday, May 10. Additional solar eruptions could cause geomagnetic storm conditions to persist through the weekend.

• The First of Several CMEs reached Earth on Friday, May 10 at 12:37 pm EDT.  The CME was very strong and SWPC quickly issued a series of geomagnetic storm warnings. SWPC observed G4 conditions at 1:39 pm EDT (G3 at 1:08 pm EDT).
• This storm is ongoing and SWPC will continue to monitor the situation and provide additional warnings as necessary.

This is an unusual and potentially historic event. Clinton Wallace , Director, NOAA’s Space Weather Prediction Center

CMEs are explosions of plasma and magnetic fields from the sun’s corona. They cause geomagnetic storms when they are directed at Earth. Geomagnetic storms can impact infrastructure in near-Earth orbit and on Earth’s surface , potentially disrupting communications, the electric power grid, navigation, radio and satellite operations. SWPC has notified the operators of these systems so they can take protective action.

Geomagnetic storms can also trigger spectacular displays of aurora on Earth . A severe geomagnetic storm includes the potential for aurora to be seen as far south as Alabama and Northern California.

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