They have the potential to make Launceston a tourist Mecca - a key visitors' destination in Australia.

Tourism Industry Council Tasmania chief executive Luke Martin said he was frustrated at talk surrounding the city's image and progress.

He said tourism investment was depressed nationwide and that Tasmania was in the very fortunate position of having investors willing to spend money.

"I don't reckon there is any other city of Launceston's size that has got as much investment going on in tourism," he said.

"In five to 10 years, there is no reason why Launceston can't emerge as one of the great destinations in Australia."

Mr Martin pointed out the Penny Royal, North Bank, Errol Stewart's Silos Hotel, North-East mountain biking, Boags developments in suggesting that Northern Tasmania had lots to be excited about.

He said a study investigating how to link the Cataract Gorge to Launceston and the Basin Concert revival was also positive.

"Hobart's got its thing going on and it's having its moment but when you look at the next two to five years, there is an enormous amount of investment happening and significant product generating in the industry," he said.

"Everything that is happening in Launceston is building off the region's strengths; it's not trying to invest in something that doesn't need to be there.

"There is a lot of doom and gloom around how the economy is performing but from a tourism perspective, there is a hell of a lot to look forward to - it is re-establishing the city's base for visitation."

Mr Martin said people needed to look at what Launceston had rather than what it didn't.

He said the North was building on its authentic history, culture and food and wine reputation.