Inbound tourism remains strong but signs of weakening growth must be heeded
Australia has enjoyed a magnificent ride on the back of a growing export tourism industry, now worth more than $44bn annually, but the latest industry figures show signs of softening across a number of key indicators.
The March 2019 International Visitor Survey (IVS), released today, shows Australia’s export tourism industry continues to climb, although at a much slower rate than the 17% growth in spend seen in the same quarter of 2016.
“While there is a natural maturing in some of our strongest growth markets, like China which is now our largest visitor market, it would be wrong to think we have reached our peak.
“Today’s IVS shows a slower growth rate than we have seen across the inbound tourism industry over the past 5 years,” ATEC Managing Director, Peter Shelley said.
“What these figures show is that we need to continue to put forward a strong proposition in these markets and at the same time continue to invest in growing our new and emerging markets.