The tourism consumption of motor vehicle hire and lease services in Australia is forecasted to grow steadily from AUD 2.06 billion in 2024 to AUD 2.21 billion in 2028. This growth represents year-on-year percentage increases of approximately 1.94% from 2024 to 2025, 1.90% from 2025 to 2026, 1.40% from 2026 to 2027, and 1.84% from 2027 to 2028. The Compound Annual Growth Rate (CAGR) over the five-year period from 2024 to 2028 is estimated to be 1.74%.

The sector stood at AUD 2.02 billion in 2023. This indicates a continuation of a moderate yet consistent growth trend, reflecting stable demand for motor vehicle hire and lease services within Australia's tourism industry over the assessed period.

Future trends to watch for:

Increasing domestic tourism potentially boosting demand for vehicle hires.
Technological advancements in vehicle hire services, such as app-based rentals.
Growing interest in environmentally-friendly vehicle options possibly influencing fleet compositions.
Economic and geopolitical factors that may impact international visitor numbers.