Analysis of tourism consumption of tourism products in Australia reveals substantial growth from 2013 to 2019, peaking at 84.13 billion AUD. The COVID-19 pandemic caused a dramatic drop in 2020 to 47.68 billion AUD, a -43.32% year-on-year decline. Recovery was swift, with values nearing pre-pandemic levels by 2021, continuing to grow in subsequent years, reaching 89.62 billion AUD in 2022 and 91.79 billion AUD in 2023, a 2.42% increase from the previous year.
From 2024 onward, forecasts predict steady growth, with values reaching 102.6 billion AUD by 2028. The CAGR from 2023 to 2028 is expected to be 1.86%, indicating moderate growth after the initial post-pandemic recovery.
Trends to watch for:
- Continued recovery from the pandemic's effects, boosting the tourism-related economy.
- Sustainable tourism and eco-friendly practices impacting consumption patterns.
- Technological advancements and digitalization spurring innovative tourism offerings.
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