The data illustrates a steady increase in domestic tourism consumption from 2013 to 2019, with a stark drop of 43.62% in 2020 due to the COVID-19 pandemic. A significant recovery occurred in 2021 with a 65.71% increase, and further stability in 2022. Forecasts suggest a continued rise, reaching 24.49 billion AUD by 2028. The 5-year CAGR leading up to 2023 stands at 3.78%, while the forecasted 5-year growth rate is 11.13%, with a CAGR of 2.13%.
Future Trends to Watch: Advancements in transportation technology, changes in consumer preferences due to environmental concerns, and post-pandemic travel behaviors are critical factors that may influence future consumption patterns in this sector.
