In 2023, the value of tourism consumption on vacation home services in Australia stood at AUD 19.32. The forecasted data shows a steady increase in the per-trip spending on vacation homes from 2024 to 2028. Specifically, the value is expected to rise from AUD 19.5 in 2024 to AUD 20.4 in 2028. This represents an average annual growth rate of approximately 1.1% over the period.
Year-on-year variations indicate a consistent upward trend:
• 2024: +0.94%
• 2025: +1.23%
• 2026: +1.11%
• 2027: +1.15%
• 2028: +1.04%
Future trends to watch for include the impact of economic factors such as inflation and consumer confidence on discretionary spending, potential shifts in travel preferences due to environmental concerns or technological innovations, and any regulatory changes impacting short-term vacation rentals. Monitoring these elements will be crucial for forecasting long-term consumption patterns in the tourism sector.
