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Qantas Cautious About Headwinds

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Capacity adjustments to match market outlook

There was a note a caution in the FY19 results released by Qantas. In their outlook they note several head...

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The Visitor Economy

May 2, 2018

Tourism is worth $55.3 billion to the Australian economy.

 

A big, bold statement that puts the industry into context. In FY17 the visitor economy grew 6.1% in nominal terms, which is the third year in a row that the visitor economy has grown faster than the overall Australian economy. Thanks to the continued growth of international visitors, tourism contributed 10% of Australia's export earnings. As a result, there were almost 600,000 people working directly in the tourism industry, or 4.9% of the Australian work force. 

 

Growth of Tourism, 2000–01 TO 2016–17 

Source: Tourism Research Australia, 2018, 'Tourism Satellite Accounts'

 

 

One concern in the data is the downward trend over the last three years of the Direct Tourism GDP, while the national GDP has increased. Now is not the time to lose focus on this important industry.

 

 

 

 

 

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