Tourism Australia – the Benefits till 2029
Tourism in Australia continues to grow to deliver higher returns for the Hotel, Tourism & Leisure Property and Business Industry.
Other benefits (reported by Austrade) include the employment of 925,000 workers. This is projected to grow to a further 123,000 by 2020 to 1,048,000. The Tourist industry is also one of the largest employers in the Australian Economy. Growing with the increased population growth as well as the continuous rise in tourist visitors..
Latest Australian Government Tourism Research Australia figures show the following industry development
(12 months to end of 2018)
Tourism industry INTERNATIONAL VISITOR ARRIVALS
Over the next two years, international visitor arrivals to Australia are expected to increase 9.7%, from 9.4 million in 2018–19 to 9.8 million in 2019–20 and 10.3 million in 2020–21.
International tourism’s strong growth is driven by a forecast 56.4% increase in annual visitation from 9.4 million visitors to 14.6 million between 2018–19 and 2028–29,
The major arrivals coming from China followed by New Zealand, the United States and the United Kingdom.
Total tourism spends (including spend by international visitors, plus overnight and day trip spend by domestic tourism/Australian traveller/ residents) is forecast to increase 4.6% to $155.6 billion in 2019−20. Total spend will then increase a further 4.9% to $163.1 billion in 2020–21.
(source Tourism Australia Search documents – article/video for discussion purposes and not financial advice.)
CST Properties Commercial Real Estate Agents & Business Brokers Sydney specialise in Australian Hotel, Tourism & Leisure Property & Business Brokerage. They can be contacted via Con Tastzidis by phone (02) 9882 2221 or email email@example.com