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December 29, 2014

Australia: Tourism to Grow as Market Changes

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Australia’s total tourism market is expected to be grow over the next five years, as international travellers take advantage of the weakening dollar to visit Australia, however the majority of growth will be from non-traditional source markets, according to market researcher IBISWorld.

“IBISWorld expects inbound visitor numbers to Australia to grow by 6.0 per cent this financial year to a total of 7.1 million, with the majority of this growth coming from neighbouring countries including China, Malaysia, Singapore and India – all of which are growing faster as sources of tourists than our traditional inbound visitor markets,” said IBISWorld industry analyst Ryan Lin.

Since mid-2013, the falling Australian dollar has been a key factor driving inbound tourism growth, as has the expansion of the middle classes and their incomes in emerging economies. At the same time, traditional markets have felt the impact of poor economic conditions. 

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