Tourism consumption of long-distance passenger transportation services in Australia exhibited a significant upward trend from 2013 to 2019, growing steadily from AUD 16.3 billion to AUD 23.65 billion. This period saw consistent year-on-year growth, peaking at 9.05% in 2018. However, 2020 marked a substantial decline (-43.7%) due to the COVID-19 pandemic, dropping to AUD 13.31 billion. A strong recovery followed in 2021 (+65.2%) with steady growth resuming in 2022 and 2023, reaching USD 25.73 billion in 2023.
Key variations include:
- Last two years' growth: +14.07% in 2022, +2.54% in 2023
- Last five-year CAGR: 3.4%
The forecast for 2024 and beyond indicates continued growth, with a projection of AUD 28.91 billion by 2028. However, growth rates are anticipated to moderate, with a forecasted 5-year CAGR of 1.95%, resulting in a total growth of 10.13% over the period.
Future trends to watch for include potential impacts of climate policies on transportation modalities, evolving traveler preferences towards sustainable travel options, and technological advancements in long-distance transportation services. Monitoring these will be crucial for understanding and forecasting future tourism consumption trends.
