Cultural tourism is one of the fastest-growing tourism segments in Australia and internationally, with an estimated global value of $9.5 billion in 2023. Login or signup to continue reading With our rich Indigenous and European heritage, significant and historic cultural facilities and reputation as a creative city home to more artists per capita than any other region in Australia, Newcastle is well placed to tap this market.
City of Newcastle is focused on exploring this potential in a number of ways. We've embedded cultural tourism in our Destination Management Plan, with a vision to create spaces and experiences that allow our creativity, culture and heritage to develop and flourish. We're investing in our cultural assets, with the expansion of Newcastle Art Gallery, the elevation of the Civic Theatre within the national touring circuit and the ongoing development of our flagship arts and cultural festival, New Annual.
We're also planning for the future with the implementation of our Cultural Precinct Masterplan, adopted by the elected council in 2022, which provides a roadmap to amplify the existing and emerging opportunities in the city's arts and entertainment hub. However, this master plan, which is designed to preserve Newcastle's cultural institutions and enhance the surrounding Civic precinct, can't be delivered in isolation. To achieve our shared goals, we're constantly exploring opportunities to partner with other organisations represented in this area, such as the University of Newcastle.
We have a strong history of collaboration with the university, including a long-running cultural partnership. More recently, we formally supported an application from the university to the federal government's Regional Precincts and Partnerships Program. Aligned with the city's partners' aspirations, the university is seeking funding to activate the university's city presence to significantly expand Newcastle's arts and culture centre.
The proposal includes significant improvements to the public domain along Auckland Street from the Conservatorium of Music to Hunter Street, to support this expansion. A new north-south pedestrian corridor would also be created from Hunter Street to Honeysuckle to strengthen the connection to the foreshore, following a path through the university's city campus. While this would principally be a development delivered by the university, the project aligns with key opportunities highlighted in our Cultural Precinct Masterplan.
The importance of collaboration is captured by the University's vision for their project: An expanded, dynamic, interconnected cultural heart that celebrates Newcastle's rich heritage, and ongoing connection and responsibility to Country. The arts and culture precinct offers a vibrant ecosystem that inspires innovation and growth in Newcastle's leading arts and culture sector, supports the aspirations of our students, and showcases the opportunities that education and lifelong learning offer our community. With partners and the community, we collaborate to continue to re-envision our city's civic space, embrace the city's creative future, and grow Newcastle's reputation as a destination for people from near and far to learn our stories and share their own.
Our Cultural Precinct Plan, developed after consultation with 23 cultural institutions, community groups and local businesses, clearly identifies the potential benefits for the community and local economy. The plan highlights the importance of key cultural projects, such as the expansion of Newcastle Art Gallery and the refurbishment of the Victoria Theatre. These projects, along with increased collaboration across institutions, will help unlock more than $16 million in direct and indirect benefits to the local economy each year, including almost 35,000 additional visitor nights.
Delivering this requires ongoing collaboration between the City of Newcastle, its cultural institutions, the University of Newcastle, small businesses, landowners, and the community. By working together we will create experiences that will preserve the heritage of the precinct while delivering beneficial cultural, economic and tourism outcomes for Newcastle. DAILY Today's top stories curated by our news team.
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Boosting city's cultural attraction, one precinct at a time
City of Newcastle is focused on exploring cultural tourism in several key ways.