The tourism consumption of shopping articles, gifts, and souvenirs in Australia has seen varied growth rates over the past decade. From 2013 to 2019, there was a steady increase in value, with notable spikes in years such as 2016 and 2018, registering year-on-year variations of 7.55% and 8.77%, respectively. However, 2020 witnessed a significant decline of 43.73% due to global travel restrictions and economic downturns. Recovery has been strong since 2021, with sharp increases bringing the 2023 value to 17.49 billion AUD. The annual average growth over the last five years has been around 2.51%.
Looking forward, forecasts indicate continued growth in tourism consumer spending, albeit at a moderate pace. From 2024 to 2028, the average annual growth rate is projected at approximately 1.57%. Key drivers will likely include increased international travel, rising consumer confidence, and enhanced retail experiences aimed at tourists.
Future trends to watch for include the impact of sustainable tourism practices, the integration of digital and shopping experiences, and potential economic fluctuations that could influence discretionary spending in the tourism sector.
