The household expenditure on leisure in Australia demonstrated fluctuating growth from 2013 to 2023, starting at 90.16 billion AUD in 2013 and reaching 145.01 billion AUD in 2023. Throughout this period, the expenditure experienced positive growth most years, with notable exceptions in 2019 where it saw a decline of 3.91%. The most significant increases were seen in 2022 and 2021 with year-on-year variations of 11.18% and 9.88%, respectively. The past five-year CAGR was highest in the 2022 period at 6.67%, indicating robust growth towards the end of the decade.
Future projections for household expenditure on leisure up to 2028 suggest continued growth, with the expenditure expected to reach 204.47 billion AUD by 2028. The forecasted five-year CAGR is 5.41%, with an overall projected growth rate of 30.12% over this period. Such growth rates indicate a strong and expanding sector.
Future trends to watch include the influence of economic conditions on discretionary spending, the potential impact of technological advancements on leisure activities, and demographic shifts that may affect spending patterns. Additionally, the evolution of consumer preferences towards sustainable and experiential leisure activities is likely to play a significant role.
