Australia Forecasts Gains In International Tourism By End Of The Decade

22 Jul 2016

By 2020, Australia plans to attain a tourism growth rate of $115 billion dollars for overnight visitor expenditure. According to TRA (Tourist Research Australia), the forecast for 2016 displays the total overnight expenditure to be around $127 billion by the year 2020!

Managing Director of ‘Tourism Australia’, John O’Sullivan, stated that “With visitor numbers and spending at record levels, there’s a lot of optimism around the industry, which seems to be borne out in this latest forecast”

However, additional work is required to be accomplished for Australia to reach the upper scale, of the tourism industry potential of $140 billion per year. With international visitors set to increase, the share-spends are predicted to grow from 31% of total spends in 2014-2015 to 41% in 2024-2025. The domestic overnight visitor spends are expected to persistently grow at a reasonable pace with nominal conditions, to about $127 billion by 2019-2020.

According to recent reckoning, Australia’s largest inbound source market is set to change due to the growth of visitors in China, which will overtake New Zealand by 2017-2018. China is expected to contribute towards total growth in expenses in tourist numbers, from 43% in 2014-2015 to 60% by 2024-2025.

The other markets expected to experience concrete growth over the next few years are Indonesia, Malaysia, Hong Kong, Japan and South Korea, along with conventional markets of New Zealand and the United States of America.

Tourism Australia’s managing director, John O’Sullivan, said that he is looking forward to work with Minister Ciobo and Assistant Minister Pitt. He also thanked Richard Colbeck for his support and commitment to the tourism industry during his time as Minister for Tourism and International Education.

For more information about this, please fill out Free assessment form. One of our consultants will get back to you. For more updates follow us on Facebook , Twitter , Google+