QUEBEC CITY - Tourism ministers from the federal, provincial, and territorial regions are planning to create a Tourism Momentum Fund. This fund would operate as a partnership to be shared between the ministries and the money would be used to seek out new investments in the industry.

Additionally, the ministers are working to develop a strategy that will increase tourism revenues to $75 billion in 2010, the same year that Whistler BC will host the Olympics. Revenues for 2002 totaled $51.8 billion.

The fund and revenue strategies will be among the initiatives headed by the newly formed Canadian Council of Ministers of Tourism. The Council will also promote coordination, cooperation, and action among all levels of government in regards to the industry. A national tourism strategy is expected to be announced by December 15, 2003.

Current marketing campaigns and projects, created to help the industry cope with the effects of SARS, are expected to continue throughout the rest of 2003.

The Ministers will meet again in May 2004 to discuss their progress with these strategies.

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