In 2023, the value of international tourism consumption of local area passenger transportation services in Australia stood at 932 million Australian Dollars. This marks a modest year-on-year increase of 2.64% from 2022. Over the past five years, there has been an average yearly variation (CAGR) of 3.52%, with significant recovery seen post-pandemic. From 2013 to 2019, the sector experienced steady growth, followed by a sharp decline in 2020 due to the pandemic, then a strong rebound in 2021 and continued growth thereafter.
Future trends to watch for:
• Technological advancements in transportation services.
• Sustainability and environmentally friendly travel options.
• Changing consumer preferences and increased digitalization.
• Potential impacts of global economic shifts and tourism policies.