From 2013 to 2018, internal tourism consumption of passenger transport services in Australia experienced substantial growth, peaking at 26.73 billion AUD in 2018. This was largely characterized by a consistent year-on-year increase with growth rates between 4.55% and 9.05%, encapsulating a healthy growth environment for domestic tourism transport services.
However, 2019 marked the beginning of a sharp decline due to various economic and possibly external factors, dropping 26.5% from 2018. The impact of the COVID-19 pandemic further exacerbated this decline in 2020, resulting in a 37.6% drop to 12.26 billion AUD.
Recovery began in 2021 with a 61.68% increase, continuing into 2022 with an 11.75% rise. However, the growth pace normalized in 2023 with only a modest 0.56% increase, stabilizing the consumption at 22.27 billion AUD.
From 2024 onwards, forecasted data predicts a stable but slow growth trajectory, with the internal tourism consumption values expected to increment gradually, reaching 22.8 billion AUD by 2028. The forecasted five-year compound annual growth rate (CAGR) stands at 0.48%, indicating a subdued yet steady recovery.
Future trends to watch for include technological advancements in passenger transport services, shifts in consumer behavior post-pandemic, governmental tourism policies, and economic conditions which could significantly influence the growth trajectory.