The analysis of domestic tourism consumption of accommodation services in Australia shows a general upward trend over the past decade (2013-2023), barring the significant dip in 2020 due to the pandemic. The value stood at 9.93 Billion Australian Dollars in 2023, reflecting a recovery and subsequent growth. Year-on-year variation exhibits fluctuations with notable positive growth rates in the most recent years, particularly a 1.34% increase from 2022 to 2023. The compound annual growth rate (CAGR) over the last five years is approximately 1.61%, indicating steady growth despite the volatility in 2020.
Future trends to watch for:
- Continued moderate growth, with forecasts showing a 1.09% CAGR over the next five years.
- An overall 5.55% increase in domestic tourism consumption of accommodation services by 2028.
- The impact of evolving tourism policies and economic conditions on tourism expenditure.
- Potential market disruptions and recovery patterns post-economic or global events.