Paul Thomen

Tuesday, 16 April 2013

Travel and Tourism in Australia 2017 Report at RnR Market Research

The Australian government considers tourism a priority sector and under its Tourism 2020 plans, intends to provide support to key competitors, state and territory governments to increase total overnight expenditure by 2020. The main components of Tourism 2020 are to expand inflows and expenditure from key Asian markets, to build competitive digital capabilities, to encourage investment by implementing regulatory reforms and to increase the sector’s labor supply. Economic growth will help support government efforts to strengthen the sector. Australia’s economy grew at a CAGR of 3.6% in 2012 − the fastest rate of growth since 2007. Despite a host of challenges, including an appreciation in the exchange rate and the rising popularity and increasing accessibility of new destinations overseas, the nation’s total international arrivals still increased by 4.6% in 2012 to reach 6.15 million tourists.

Rising levels of consumer confidence to bolster domestic tourist volumes

Domestic tourist volume increased to 73.4 million tourist trips in 2012, expanding at a CAGR of 0.5% during the review period. Over the forecast period, trip volumes will increase at a CAGR of 1.5% to reach 79.1 million by 2017. The key growth drivers over the forecast period will be improved economic conditions, increasing employment, rising consumer confidence, a slight depreciation in the Australian dollar against other major currencies and government initiatives to increase domestic tourism.

Improving economic conditions in key source markets

Despite a decline in 2009 due to the global financial crisis, the number of inbound tourists increased at a CAGR of 2.4% during the review period, with total arrivals standing at 6.15 million in 2012. By 2017, annual foreign tourist arrivals are expected to have reached 7.3 million, expanding at a CAGR of 3.62% over the forecast period. The key drivers of this growth are anticipated to be improving economic conditions in key source markets, greater access to travel services at competitive prices and government efforts to promote Australia as an attractive tourist destination.

Outbound tourism is expected to rise at a CAGR of 7.24% over the forecast period, with the total number of departures rising from 8.2 million in 2012 to 11.6 million departures in 2017. The expansion of air transport capacity to key outbound destinations and improvements in consumer sentiment are expected to facilitate this growth.

Air traffic volume increase

Australia’s air traffic volume, both domestically and internationally, continued to increase during the review period. Passengers carried reached 86 million in 2012, having expanded at a CAGR of 3.63% during the review period. Acceleration in the pace of growth over the forecast period is projected, a trend that is anticipated to be driven by the expansion in tourism flows and improving economic conditions. The number of passengers carried is expected to increase at a CAGR of 4.17% over the forecast period to reach 105.5 million in 2107.

Reasons To Buy

- Take strategic business decisions using historic and forecast market data related to the Australian travel and tourism sector
- Understand the demand-side dynamics within the Australian travel and tourism sector, along with key market trends and growth opportunities
- Identify the spending patterns of domestic, inbound and outbound tourists by individual categories
- Analyze key employment and compensation data related to the travel and tourism sector in Australia

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