Forecast shows tourism will continue to drive growth in Australian economy
Today’s Tourism Forecasts 2019 report released by the Federal Government shows the short and long-term prospects for Australia’s tourism industry continue to look positive, despite shifts in the global economy.
The global trend to travel, coupled with a lower Australian dollar, will see the industry’s export income grow by 8% in the coming year and more than double to $94.9 billion in export earnings in the next decade.
“In the next ten years we will see international tourism spend growing its share of the visitor dollar – with 40% of tourism spending coming from international travellers by 2028-29. This is an injection of foreign money delivered directly into the Australian economy,”Peter Shelley, ATEC MD
“The long term view of tourism is that of a growth industry which will continue to contribute strongly to Australia’s economic advancement and provide an increasing number of jobs for Australians.”
Full media release here.