Travel agents demand taxpayer bailout

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The Australian Federation of Travel Agents has urged the federal and state governments to provide targeted assistance for the industry, which has been amongst the hardest hit by the COVID-19 pandemic.

Travel agents qualify for financial hardship assistance if their turnover has fallen by 30%, but many have experienced a decline of 90% or more.

Travel agents contend that existing government grants are insufficient, with some forecasting that travel bookings may not recover until 2024:

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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.