A re-elected Liberal Government will invest in its Tourism Growth Strategy and extend it by an additional two years, adding $25 million to the overall strategy.
Gallant added that by extending the original $100-million 8-year strategy by two years and $25 million, the aim is to further bolster the Tourism Growth Strategy’s undertaking to grow New Brunswick’s Gross Domestic Product from tourism to $2 billion by 2025 and to $2.2 billion by 2027. Tourism currently contributes $1.3 billion to New Brunswick’s GDP.
As a result of this strategy, New Brunswick aims to increase visitor spending by 57 per cent over 2016 levels by 2025. This would represent an additional $133 million in provincial tax revenue and lead to the creation of up to 4,800 new jobs in the tourism sector. This is the first comprehensive tourism growth plan in New Brunswick since the 1990s.
“We will continue to invest in and work to grow this important sector of the provincial economy. By planning and investing wisely we create more jobs for New Brunswickers and contribute to the overall vitality of our communities,” added Gallant.
The Tourism Growth Strategy revolves around five main pillars:
- Elevation of Tourism Economic Stature – raising awareness and appreciation of the economic importance of tourism as a key sector of the New Brunswick
- Research, Technology and Performance Metrics – establishing innovative tourism leading practices in research, technology and performance metrics;
- Product and Experience Innovation – developing world class products and experiences that will achieve visitation and revenue goals in identified markets;
- Advance Partnership Investment and Alignment – aligning partnership investment to foster product innovation, entrepreneurship and market development; and
- Brand and Market Ownership – developing a generational brand resulting in increased visitor spending in New Brunswick from identified markets.
Gallant has announced other measures earlier in this campaign aimed at creating more jobs and opportunities in New Brunswick, such as working with partners to build on the success of the emerging cybersecurity supercluster in Fredericton and create other economic superclusters in the province. Gallant also announced that a re-elected Liberal Government will double its investments in the Youth Employment Fund, further extend the Free Tuition and Tuition Relief for the Middle Class programs, eliminate interest on provincial student loans, increase infrastructure investments by $150 million, and appoint a minister responsible for small business to oversee initiatives like the reduction of red tape and better access to capital.
The Gallant Liberal Government developed the multi-year New Brunswick Economic Growth Plan, which aims to grow the economy and create job opportunities for New Brunswick citizens. This plan focuses on strategic investments in infrastructure, in the responsible development of New Brunswick’s natural resources, in fostering innovation within traditional industries as well as emerging ones like cyber security, in supporting small businesses, in developing a skilled workforce, and in boosting growth sectors like tourism. Over the past four years:
- Government contributed to the creation of 15,000 jobs;
- The economy has grown every year compared to retraction under the Conservatives;
- The unemployment rate has gone from 10.1 percent to 8.3 percent;
- As of 2017, New Brunswick has the largest population in its history; and
- Government surpassed deficit targets due to our economy growing faster than the private sector has predicted, and the auditor general has confirmed that government has a budget surplus in New Brunswick for 2017-18.