why tourism could replace mining as australia's biggest export
TRANSCRIPT
As question marks remain over the longevity of Australia’s resources boom, tourism looks set to pick up the slack. Economists predict that the
tourism industry could replace mining as Australia’s biggest export. SiteMinder explores the figures as released by Tourism Australia...
Why tourism could replace mining as Australia's biggest �port
Why tourism could replace mining as Australia's biggest �port
*Source: Tourism Australia July 2015
$32.5bn 10% 7%6.5
million231
million$2.9billion+
6.5 million visitors to Australia spent a record-breaking
$32.5 billion(year ending March 2015)
...that means tourists spent an extra $2.9
billion compared with the year before - up 10%
Visitors are staying for longer, too - number of nights spent up 7% to
231 million
Why tourism could replace mining as Australia's biggest �port
*Source: Tourism Australia July 2015
from
$1.5 billionin 2006
to
$6.4 billionin 2015
Chinese New Year celebrations
�e 2015 AFCAsian Cup
�e 2015 ICC Cricket World Cup
Chinese visitors wereattracted by:
China’s contribution to Australian tourism
has increased 20% in less than 10 years:
Why tourism could replace mining as Australia's biggest �port
*Source: Tourism Australia July 2015
Cricket attracted the largest number
of Indian visitors ever to travel to
Australia - 23,400 in one month
Visitors from India have increased by 78% since 2010 - second only to China at 137%
To put this into perspective, theincrease for all other countries
combined has been 16%.
Tourism 2020 has s� strategic focus areas: Grow demand from Asia
Build competitive digital capability
Encourage investment and implement the regulatory reform agenda
Ensure tourism transport environment supports growth
Increase supply of labour, skills and Indigenous participation
Build industry resilience, productivity and quality
Why tourism could replace mining as Australia's biggest �port
*Source: Tourism Australia July 2015
1
2
3
4
5
6
Tourism 2020 is a ‘whole of government’ approach.It aims to increase tourism’s contribution to GDP by up to 50% - that’s $51 billion by 2020.
Why tourism could replace mining as Australia's biggest �port
*Source: Tourism Australia July 2015
10%
535,000
Weak Australian dollar is boosting tourism
Visitors from the United States up 10% to 535,000
- spending $2.9 billion,up 14%
Results from the UK remain soft
- 631,000 visitors spent $3.5 billion
$3.5bn$3.5bn
Why tourism could replace mining as Australia's biggest �port
Source: Tourism Australia July 2015, Australian Bureau of Statistics, Sydney Morning Herald
11% 2.5%GDP
Value of inbound tourism for May 2015
was up 11% year-on-year
Total tourism income for the year ending May 2015
stood at $17 billion - beating coal at
$16.5 billion
Visitor spend on flights, accommodation, restaurants,
and experiences now accountfor 2.5% of GDP - coal contributes
2.3% and iron ore 2.7%
TOURISM$17bn
COAL16.5bn
“Tourism has overtaken coal to become Australia’s second-largest �port. Tourism may also soon overtake iron ore, Australia’s largest �port, given we �pect the price of iron ore to remain under pressure.” - Barclays chief economist Kieran Davies
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“Tourism has overtaken coal to become Australia’s second-largest �port. Tourism may also soon overtake iron ore, Australia’s largest �port, given we �pect the price of iron ore to remain under pressure.” - Barclays chief economist Kieran Davies