Analyzing the internal tourism consumption of accommodation services for visitors in Australia reveals an initial consistent growth from 2013 to 2018, peaking in 2018. However, 2019 saw a notable drop, which was exacerbated by the significant decline in 2020 due to the pandemic's impact. Thereafter, a strong recovery trend emerged from 2021 to 2022, culminating in a relatively stable 2023.
Specifically, the value for 2023 stood at 18.25 billion Australian dollars, which saw a minimal year-on-year increase of 0.49%. Over the last five years, the annual average variation, as represented by the CAGR, was -1.34%. The forecasted data from 2024 to 2028 suggests a gradual recovery with an average forecasted CAGR of 0.42%, signaling potential stability and modest growth.
Future trends to watch for include the pace of economic recovery post-pandemic, shifts in consumer behavior towards domestic travel, and the impact of any new government policies aimed at boosting internal tourism. Additionally, emerging trends in remote work could influence longer stays and higher consumption of accommodation services.
