International tourism consumption of alcoholic beverages and other beverages in Australia saw a steady rise from 2013 to 2019, peaking at AUD 1.64 billion in 2019. The year 2020 experienced a notable decline of 14.67% due to the impact of the COVID-19 pandemic. However, a significant recovery followed, with a 23.71% increase in 2021 and continued moderate growth to AUD 1.81 billion by 2023. The average annual growth rate (CAGR) over the past five years was 2.66%.
Looking ahead, the forecast predicts continued gradual growth, reaching AUD 2.04 billion by 2028. Projected future trends highlight a 5-year CAGR of 1.83%, equating to a total growth of 9.52% over this period.
Key future trends to watch for include:
- The impact of global economic conditions on international tourism.
- Shifts in consumer preferences towards health-conscious and sustainable beverage options.
- The effect of policy changes and potential travel restrictions on international arrivals.
