Tourism in Australia - Industry Market Research Report

Tourism in Australia - Industry Market Research Report

Tourism in Australia

Tourism is a crucial contributor to economic growth in Australia. It generates widespread revenue and employment opportunities across various sectors of the economy. Tourism industry revenue is calculated based on total expenditure on tourism products and services by both local and international tourists. Domestic tourism accounts for a significant share of industry revenue, although international tourism represents a key area of expansion for tourism operators. The COVID-19 pandemic heavily affected all businesses in the Tourism industry, primarily through stringent government restrictions on movement. From March 2020 to February 2022, Australia's international border was shut and travel into and out of Australia collapsed. Intermittent city-wide lockdowns and state border closures during the 2020 and 2021 calendar years also heavily restricted domestic tourist visitor nights. Overall, industry revenue is anticipated to decline at an annualised 4.9% over the five years through 2022-23, to $117.5 billion.

Industry firms mainly provide services to international and domestic visitors on trips shorter than one year. Visitors include those travelling for work-related purposes, like conferences, and for leisure and personal reasons, like visiting friends and relatives.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.