As per Tourism Research Australia’s (TRA) Tourism Forecasts 2016, robust gains in worldwide tourism will prove crucial and aid the nation continue to get its Tourism 2020 growth target of 115 billion dollars every year for the overnight visitor expenditure by the close of the decade. The total overnight spend is presently estimated to reach 127 billion dollars by the year 2020.
According to John O’Sullivan, the Tourism Australia Managing Director (MD), with worldwide & domestic tourism spending being predicted upwards, the progress the nation is making towards the Tourism 2020 targets is undoubtedly going faster.
He added that with visitor figures and spending at historic levels, there’s a great deal of confidence around the business, which appears to be borne out in the most recent prediction.
But, more work will require to be done in case Oz is to arrive at the upper bound of its tourism industry possibility of 140 billion dollars every year by 2020.
With international guests set to augment their share of spend from 31% of total spend in 2014-2015 to 41% in 2024-2025, and domestic overnight visitor spend continuing to increase, but at a modest speed, total overnight expenditure is projected to reach 127 billion dollars in nominal terms by 2019-2020.
As per the forecasts, the nation’s biggest inbound source market is set to transform, with strong visitor growth witnessing the People’s Republic of China go beyond New Zealand in 2017-2018, some two years earlier, vis-à-vis formerly estimated.
The People’s Republic of China is likely to contribute 43% of total growth in visitor figures from 2014-2015 to 2024-2025 and 60% of growth in expenditure. Japan, South Korea Indonesia, Malaysia, Hong Kong, together with the conventional markets of the US and New Zealand, are the other markets likely to see solid growth over the coming few years.
The report indicates that sporting events planned in 2017-2018 will also witness an increase in arrivals from Britain--the country’s third biggest inbound market. Strong growth in holiday travel, mainly thanks to the lower value of the Australian dollar, is estimated to propel growth in domestic tourism in 2016-2017 and 2017-2018, with several nationals of Oz continuing to prefer to holiday at home instead of taking a trip overseas.
In the meantime, the latest numbers reveal that Sydney airport saw a historic 20.3 million visitors in the first half of 2016, representing total increase of 6.7% and worldwide increase of 9.3% which officers reportedly illustrated as special.
Growth appears set to carry on with fresh routes becoming accessible. For instance, in September there are two fresh services from Hainan Airlines due to begin.
Apart from this, Steven Ciobo has reportedly been re-appointed as the Minister for the tourism industry, post the general election, even while Keith Pitt has been handed over the charge of trade, tourism and investment, and he had joined as Assistant Minister in the organization.