TOURISTS CASHED UP AND HEADING FOR AUSTRALIA

Written on the 1 September 2016 by Business News Australia

TOURISTS CASHED UP AND HEADING FOR AUSTRALIA

INTERNATIONAL tourists flocked to Australia in FY16 with the tourism industry growing three times faster than the broader economy.

Figures from Tourism Research Australia show there was a record 7.2 million international visitors in the 12 months to June 30, up 10 per cent on the previous year.

The level of spending grew at a faster rate, surging 14 per cent to $38.1 billion.

The growth in international visitors compares with the latest GDP figure showing the broader economy has expanded by 3.1 per cent.

It also compares with the latest forecast from BIS Shrapnel which has economic growth sliding each year over the next three years to 2.1 per cent by 2018-19.

Tourism Research Australia says visitor numbers have spiked across the board, driven by stronger arrivals from New Zealand, China, the US, Singapore, Taiwan, Hong Kong, Indonesia, Malaysia, India, Germany and Switzerland.   

New Zealand remains Australia's biggest inbound market with 1.2 million visitors, but strong growth from China puts visitor numbers at a close second.

The Chinese market has grown 23 per cent to 1.06 million, and at that rate it will outstrip Kiwi arrivals in the current financial year.

China and Taiwan are the fastest growing inbound market, at 23 per cent, followed by Korea at 21 per cent.

Tourism Research Australia has found that more inbound visitors are coming for a holiday, for education or to visit friends and relatives, while there has been a fall in the number coming to Australia for business.

Education and tourism remain the biggest reasons for the rise in international arrivals.

In percentage terms Victoria, Tasmania and the ACT recorded the strongest growth at 13 per cent, followed by Queensland at 11 per cent.

Visitor growth in NSW and South Australia stood at 10 per cent.

While the backpacker market also grew during the year, it was at a slower pace to the rest of the international visitors, or 2.4 per cent.


Author: Business News Australia

Latest News

VITA GROUP POSTS STEADY RESULTS DESPITE ROUGH YEAR

IT'S no secret Vita Group (ASX: VTG) has had a testing year, however the company has still managed to deliver ...

KOGAN BREAKS FORECASTS IN ITS FIRST YEAR OF PUBLICLY LISTED TRADE

RAISING the bar high in its first year as a publicly listed company, Kogan.com (ASX: KGN) has smashed its forecast...

CAMPLIFY MOTORS INTO THE UK MARKET

CARAVAN hire and RV sharing community Camplify has made its move in the European market, establishing its first op...

COCHLEAR R&D INVESTMENT DRIVES NEW PRODUCTS AND BOOSTS PROFIT AND REVENUE

COCHLEAR (ASX: COH) has boosted its 2017 full year net profit by 18 percent to $223.6 million and has forecast furthe...

Related News

WESFARMERS BOOKS BUMPER PROFIT BUT SUPERMARKET WAR HITS COLES' BOTTOM LINE

SUPERMARKET giant Coles has posted its biggest slide in earnings since it was acquired by Wesfarmers (ASX: WES) 10 ye...

ANALYSTS PREDICT WHAT AUSSIE LIVING IS LIKELY TO BECOME IN THE NEXT CENTURY

AS THE Australian population continues to grow, analysts are predicting what the country is likely to look like wi...

SEVEN WEST REPORTS MASSIVE LOSS AND CUTS CEO TIM WORNER'S PAY PACKET BY $450K

SEVEN West Media (ASX: SWM) has posted a full-year loss of $744.3 million and cut CEO Tim Worner's pay packet by ...

HOW MAKING MISTAKES AND PASSION SCORED WEIGHT LOSS PARTNERS A DEAL WITH SHARK TANK'S JANINE ALLIS

THEY partnered up to provide a scientific and targeted approach to dieting, and Kate Save and Geoff Draper cut Sha...

BOOK YOUR FUNCTION SPACE HERE

 

 

 

Contact us

Email News Update Sign Up Contact Details
Subscriptions

PO Box 2087
Brisbane QLD 4001

LoginTell a FriendSign Up to Newsletter