Super-growth tourism sector to help build Australia’s ‘lucky country’: Deloitte report
Tourism exports to grow to $57 billion by 2033DOWNLOAD
14 November 2013: International tourism will be a key driver of Australia’s future prosperity, powered by Asia’s growth and a new generation of travellers looking for space, nature and luxury experiences according to a new Deloitte report, Positioning for prosperity? Catching the next wave.
Tourism is among a ‘fantastic five’ of super-growth sectors – alongside gas, agribusiness, international education and wealth management – which Deloitte believes could add about $250 billion to the economy over the next 20 years, and an additional $25 billion to national GDP in 2033.
As an indication of the magnitude of Australia’s tourism opportunity, the report projects the global tourism industry growing at 4.1% (in real terms) over the next two decades – more than 20% faster than global GDP growth.
Speaking at a Tourism and Transport Forum event in Sydney today, Deloitte’s Tourism, Hospitality and Leisure Leader, Lachlan Smirl said Australia was already opening its doors to a new generation of inbound visitors whose numbers, and tourist wallets, were growing.
“Brand Australia has, for some time, been about our natural wonders, wide-open spaces, distinctive landmarks and, more recently, our fine food and wine and sophisticated urban centres” Mr Smirl said.
“And it is these very same assets that are underpinning the next wave of growth.
“The combination of vibrant cities and world class natural assets is a compelling value proposition. Not only are natural tourism assets among the most important drivers of international travel decisions, Australia’s natural assets are ranked number one by 11 of our most significant tourism markets, including, critically, China.
“And the longer term growth story holds even greater promise. China is already our second-biggest source of tourists – and the largest in terms of visitor expenditure – and its prominence, and that of emerging Asia more broadly, will only grow over time as the region’s middle class expands.”
Deloitte Access Economics is projecting visitors from markets like China, India and Indonesia to more than treble over the next 20 years and tourism exports to grow from the current $26 billion to $57 billion in real terms by 2033.
According to the report, the third in Deloitte’s Building the Lucky Country series, Australia’s tourism advantage is underpinned by:
Mr Smirl said that while the outlook was positive, challenges still remained.
“We know that tourism infrastructure, skills and a shortage of hotel rooms are all issues governments and the industry are aware of and are keen to address. But the fact that these issues have persisted for some time highlights that the industry still has work to do,” he said.
Key issues identified in the report include:
Mr Smirl said Australia needed to ensure that the appeal of its unique tourism assets was complemented by supporting infrastructure and a policy environment and industry strategy conducive to it realising its growth potential.
“We need to invest in our airports and ensure conditions are attractive for international airlines, especially low cost carriers. Equally, we need to invest in other tourism infrastructure such as hotels and attractions to support and leverage our existing assets.
“Travel is an experience, so we need to optimise this experience with a skilled, professional and ‘Asia-ready’ workforce.
“And we need to continue to embrace technology. Travellers today want to explore and book online and, in what is increasingly proving a great marketing device, they want to share on line. So we need to continue to embrace digital.
“If we can succeed across these areas – if we can orientate our tourism industry to capitalise on the opportunity we are confronting – there is no question the economic benefits for Australia will be significant.”
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