From 2013 to 2019, the tourism consumption of alcoholic beverages and other beverages in Australia saw a steady upward trend, culminating in a value of 6.47 billion AUD by 2019. However, 2020 witnessed a significant drop due to the COVID-19 pandemic, with a 42.61% decrease. The market rebounded strongly in 2021 with a 64.54% increase, returning to pre-pandemic levels and continuing to grow in 2022 and 2023. As of 2023, the value stood at 7.1 billion AUD, demonstrating a moderate 2.19% year-on-year growth.
Over the last five years (2019-2023), the compound annual growth rate (CAGR) was approximately 2.4%. Looking ahead, the market is expected to continue growing, with forecasted values reaching 7.85 billion AUD by 2028, representing a 1.7% CAGR and an overall growth rate of 8.81% over five years.
Future trends to watch for include potential impacts of policy changes on alcohol consumption, shifts in tourism patterns and demographics, and innovations in the beverage industry that could affect consumer preferences and spending.
