Between 2013 and 2018, Australia's domestic tourism expenditure on food and beverage serving services experienced steady growth, reaching a peak of AUD 19.08 billion, fueled by an average year-on-year growth ranging from 4.68% to 8.04% with a CAGR of around 6.57% to 6.9%. In 2019, there was a significant drop of 22.08%, likely due to market disruptions. Post-2019, there was some recovery with modest increases, culminating in a value of AUD 18.85 billion in 2023, showing a 2.45% year-on-year growth. For 2024 and beyond, a steady growth trajectory is forecasted with a CAGR of 1.74% up to 2028.
Future trends to watch for include the influence of changing consumer preferences towards sustainable and local food, increasing integration of digital technology in dining experiences, and potential external economic factors impacting disposable income and travel behavior.
