- Existing Business
Tourism is worth approximately $513m to the local economy each year (Source: Remplan 2018, release 1). With consistent growth every year, it highlights the continuing importance of the sector to Ballarat.
Tourism is also an important employer, with a local workforce of 2,974 people employed as a direct result of tourism activities in the accommodation, cafes and restaurants areas (Source: Remplan 2018, release 1).
International, interstate and intrastate visitors play an important role in Ballarat’s economy. In 2017, more than 2.4m visitors travelled to Ballarat, injecting $397m into the local economy (Source: Tourism Research Australia, 2018).
The key product strengths of Ballarat have been identified as history and heritage, art and culture, gardens, and major events.
The identified investment opportunities for Ballarat include the establishment of boutique accommodation associated with heritage. The development of the Ballarat Railway Station, which includes a new 4-star hotel and a 3000m² conference and exhibition centre within the historic bluestone Goods Shed, is a good example of the types of investment opportunities we’re talking about.
The development of tourism infrastructure and product to capitalise on the Creative Precinct and the Lake Wendouree Precinct is another opportunity we have identified.
Ballarat is readily accessible from all parts of Victoria via an excellent highway network and is just over a one-hour drive from Victoria’s two major airports. Many visitors find Ballarat is the perfect base to explore the region, and often forms a major stopping point during visitor’s journeys around the Great Southern Touring Route, the Great Ocean Road, Geelong and the Grampians National Park; or to discover historic townships in the Goldfields region.