The international tourism consumption of vacation home services in Australia has shown significant variability over the past decade. Starting at 902 million AUD in 2013, it experienced moderate growth until 2019, peaking at 1140 million AUD. The onset of the COVID-19 pandemic in 2020 led to a sharp decline by 42.28% to 656.88 million AUD. However, subsequent recovery was robust, with a 65.37% increase in 2021, continuing to a steady growth trend up to 2023, reaching 1270 million AUD. From 2024 onwards, the forecast predicts a consistent growth, ending at 1440 million AUD in 2028.
Year-on-year variations:
- 2022: 14.15%
- 2023: 2.66%
CAGR over the last 5 years: 2.93%
Future trends to watch for include potential shifts in international travel behavior due to economic conditions, geopolitical stability, and advancements in remote work which may influence prolonged stays in vacation homes. Enhanced marketing and investments in vacation rental platforms could bolster consumption further.
