Media releases

Open borders to help drive economic recovery

7 February 2022

The re-opening of Australia’s borders to the world will kickstart Australia’s recovery, ease staffing pressures and help small businesses get back on their feet.

Westpac CEO Peter King welcomed the announcement, two years after borders closed to foreign travellers at the start of the pandemic.

“Businesses across the country will always respond to demand, so bringing back foreign travellers and visa holders is vitally important,” Mr King said.

“Many businesses in the tourism and hospitality sectors have had a rough two years. The return of foreign tourists will finally bring them some good news.

“For many other small businesses, a shortage of workers has caused significant issues and forced many to close. Re-opening international borders will ensure the return of much-needed skilled resources for the country but also supply a stable source of people; whether it be backpackers, students or tourists who provide employment in the services sector, as well as a stable stream of customers.

“Westpac is positive that the recovery is headed in the right direction. Now we need to ensure that CBDs continue to re-open and that’s why we are looking to return our people to the office by the end of this month, while managing the ongoing risks posed by COVID,” Mr King said.

Media Contact:

westpacmediarelations@westpac.com.au