International Tourism Consumption of Vacation Homes Services in Australia saw a steady growth from 2013 to 2019, peaking at 1090.0 million AUD in 2019. However, the sector faced a significant dip in 2020 due to the pandemic, with a 42.4% year-on-year decrease to 626.08 million AUD. Recovery was swift in 2021, with consumption reaching 1040.0 million AUD, marking a 65.75% increase. The trend continued with a value of 1220.0 million AUD in 2023, showing a 2.86% year-on-year growth. The Compound Annual Growth Rate (CAGR) over the last five years stands at 3.18%.
Forecasts for 2024 to 2028 suggest a gradual increase with a 2.15% CAGR and an overall growth rate of 11.23%, leading to a predicted consumption of 1390.0 million AUD in 2028. Future trends to watch include fluctuating exchange rates, shifts in global travel patterns, and potential impacts from climate policy changes.
