Tourism & Hotel Outlook Q3 2012
Australia’s tourism industry is becoming increasingly reliant on international tourist expenditure, especially from emerging Asian economies.
The expected moderation of the Australian dollar over time, and continuing growth in China and other key Asian markets is forecast to drive solid growth in international visitor numbers into the future.
At the same time, and in a positive sign, domestic visitor trips and nights have increased and there are strong signs that outbound travel by Australians will slow over the next three years.
On the hotel front, an increase in domestic visitor nights has contributed to a new record for Australian hotel occupancy rates.
In our Q3 2012 Tourism & Hotel Outlook, we again examine an industry in the middle of significant transformation and the macro and micro economic issues influencing both the tourism and hotel sectors.