Fed cash splash to revamp Great Ocean Rd

Victoria's iconic Great Ocean Road will be transformed under a federal government cash splash to boost tourism and jobs.

Prime Minister Scott Morrison announced upgrades to the Shipwreck Coast and Geelong Convention Centre as part of a $154 million deal, during a visit to the region on Monday.

The funding injection will be a "game changer from Geelong all the way along the Coast", Mr Morrison said.

The Great Ocean Road attracts six million people every year, while more than two million visit the Twelve Apostles, one of Australia's major attractions.

"When it comes to tourism in Australia it doesn't get much more iconic than the Twelve Apostles and the Great Ocean Road," the prime minister said.

"Our significant investments in Geelong infrastructure will mean more jobs and a better quality of life for hard working families, giving local businesses a real boost."

The federal contribution to the Geelong City Deal includes $12 million to upgrade Apollo Bay Harbour and $10 million for a new ferry terminal at Queenscliff.

The funding will also help construct a state-of-the-art convention and exhibition centre along the Geelong waterfront, while a new viewing deck and amphitheatre are also set to be created at the Twelve Apostles.

The Great Ocean Road region generated about $1.3 billion in tourist spending in the year ending June 2017, the government said, and visitor numbers are expected to increase by up to 50 per cent by 2025.

The Victorian Chamber and Victoria Tourism Industry Council welcomed the funding announcement.

"The commitment of the Morrison government, along with previous commitments by the (state) Andrews government, to Geelong and the Shipwreck Coast will boost business, tourism and jobs," chamber chief executive Mark Stone said.