1. Market Research
  2. > Tourism and Leisure
  3. > Tourism Market Trends
  4. > Travel and Tourism in Australia to 2019

Travel and Tourism in Australia to 2019

  • February 2015
  • -
  • GlobalData
  • -
  • 159 pages

Summary

Table of Contents

Search Inside

Product Synopsis
Australia's tourism sector continued to perform well in 2014, with positive growth across inbound and domestic categories. High expenditure of AUD30.9 billion (US$28 billion) by international visitors in 2014, and AUD77.6 billion (US$70.5 billion) by domestic travelers places the Australian tourism sector in a strong position to achieve the 2020 target of AUD115 billion (US$104.4 billion) in overnight expenditure. The growth was largely driven by a strong increase in tourists from Japan, Singapore, Malaysia, South Korea, and Indonesia which grew by 22.4%, 10.7%, 13.8%, 8%, and 13.8%, respectively. This signals that Australia's tourism board is moving in the right direction as it outlines in Tourism 2020 plan to expand inflows and expenditure from key Asian markets. The 2020 plan will be taken-up in three phases and the first phase 'Setting the foundations' spanned from 2011 to 2014 ended recently. The first phase was aimed to increase investment in the sector, ensure sufficient levels of skilled labor, and work with aviation partners to ensure adequate capacity on relevant routes.

Introduction and Landscape
- The Australian economy is expected to grow at a CAGR of 5.54% over the forecast period while the unemployment rate is projected to decrease from 6.2% in 2014 to 5.7% in 2019. Healthy economic growth and decreasing unemployment will benefit the growth of Australian domestic and outbound tourism over the forecast period

- Domestic trips expanded by 5% in 2014 totaling 78.3 million while expenditure valued AUD77.6 billion (US$70.5 billion), registering a growth of 3.5%.However, the expenditure declined by -2.4% in 2013 despite a growth in the number of tourists. The decline was largely attributed to a contraction in business expenditure, indicating that business travelers and companies exercised caution in business spending as currency started to depreciate in 2013

- The 2020 Tourism Industry Potential lists the prime targets of the Australian government's tourism strategy, Tourism 2020. It outlines the tourism sector's collective goal to generate AUD115 billion (US$104.4 billion) to AUD140 billion (US$127.1 billion) in overnight visitor expenditure (including both inbound and domestic) by 2020

- Australia's leading airlines - the Qantas Group and Virgin Australia, reported a combined loss of AUD3.4 billion (US$3.1 billion) in 2013-2014, while combined revenues declined by only 1.3% i.e. AUD290.7 million (US$264 million). The combined loss was primarily attributed to increased expenses incurred by both airlines over the fiscal year, exacerbated by the Australian dollar (AUD)depreciating 11% against the US dollar (US$)in 2013-2014

- The occupancy rate in Australia increased by 1.5% to 66.9% in 2013-2014, and has been fueled by slow growth in national room supply. The trend is expected to continue in short term with occupancies projected to rise by another 1.7% annually until December 2016. This trend will be seen particularly in Adelaide, Melbourne and Sydney, as strong demand has increased occupancy rates in these cities, in comparison to the national average. Increased occupancy rates in these cities will translate into strong revenue growth and RevPAR. In 2013-2014, occupancy rate in Sydney, Melbourne and Adelaide increased by 6.1%, 7% and 5.3% respectively. In line with this trend, revenues grew by 8.5%, 7.6% and 6.2%

- Avis Budget Group Inc. acquired New Zealand-based Apex Car Rentals for a consideration of US$29 million in cash, along with the book value of Apex's rental fleet and potential earn-out payments based on its financial performance in 2012. The takeover of Apex which has a fleet of over 4,000 rental cars throughout locations in Australia and New Zealand will strengthen Avis's presence in these two countries

Key Features and Benefits
The report provides detailed market analysis, information, and insights, including:

- Historic and forecast tourist volumes covering the entire AustralianTravel and Tourism sector

- Detailed analysis of tourist spending patterns in Australia for various categories in the Travel and Tourism sector, such as accommodation, sightseeing and entertainment, foodservice, transportation, retail, travel intermediaries, and others

- Detailed market classification across each category, with analysis using similar metrics

- Detailed analysis of the airline, hotel, car rental, and travel intermediaries industries

Key Market Issues
- Make strategic business decisions using historic and forecast market data related to the AustralianTravel and Tourism sector

- Understand the demand-side dynamics within theAustralianTravel and Tourism sector, along with key market trends and growth opportunities

Get Industry Insights. Simply.

  • Latest reports & slideshows with insights from top research analysts
  • 60 Million searchable statistics with tables, figures & datasets
  • More than 25,000 trusted sources
Get This Report
24/7 Customer Support

Talk to Ahmad

+1 718 618 4302

Purchase Reports From Reputable Market Research Publishers
Analysis of Key Sectors of Egypt: Agriculture, Tourism, Dairy, Meat, ICT, Manufacturing and Mining Along With Production and Consumption Data (2017 - 2022)

Analysis of Key Sectors of Egypt: Agriculture, Tourism, Dairy, Meat, ICT, Manufacturing and Mining Along With Production and Consumption Data (2017 - 2022)

  • $ 6000
  • Industry report
  • January 2017
  • by Mordor Intelligence LLP

Egypt is one of the fastest growing and most promising economy in Africa. Egypt's high growth rate in recent years was driven by high international tourist inflow, growth in trade & logistics and ICT market. ...

Medical Tourism Market - Malaysia Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024

Medical Tourism Market - Malaysia Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024

  • $ 5795
  • Industry report
  • February 2017
  • by Transparency Market Research

Malaysia Medical Tourism Market: Overview In terms of revenue, the Malaysia medical tourism market is expected to register a CAGR of 30.5% during the forecast period, 2016–2024. The primary objective ...

Global Medical Tourism Market Growth, Trends & Forecast (2017 - 2022)

Global Medical Tourism Market Growth, Trends & Forecast (2017 - 2022)

  • $ 4750
  • Industry report
  • February 2017
  • by Mordor Intelligence LLP

The global medical tourism market accounts for about $XX billion in 2014 and it is anticipated to reach a market value of $XX billion by the end of 2020 at a CAGR of XX% during the forecast period of 2015 ...


ref:plp2015

Reportlinker.com © Copyright 2017. All rights reserved.

ReportLinker simplifies how Analysts and Decision Makers get industry data for their business.