Tourism and Hotel Market Outlook
Released twice a year, our Tourism and Hotel Market Outlook provides even more insights into the issues and trends confronting the Australian tourism and hotel sectors.
Key developments covered in this issue include:
- Momentum continues to build for the local industry – the continuing global economic recovery and an easing Australian dollar were positives for Australian tourism in 2013, and will remain so in the future
- Asia is the big long term growth driver, but improving economic conditions in traditional source markets are providing a further boost to growth
- As the Australian dollar continues to ease, growth in outbound travel by Australians will continue to moderate and the domestic baton will be progressively passed from corporate to leisure travel.
- Occupancy rates in Australia’s south east have hit record highs on the back of shifting patterns of demand and a modest, albeit strengthened, supply pipeline
- Shifts in economic growth drivers are contributing to shifts in domestic travel patterns, with flow-ons for the nation’s hotel sector
- Strong demand growth, coupled with an investment pipeline which has strengthened but remains modest in the near term is seeing hotel occupancies push further into record territory nationally and across several individual markets.