2015 continues to be a standout year for Australian tourism, according to the newly published Tourism and Hotel Market Outlook 2015 report by Deloitte.
The mid-year update says the tourism sector’s key macroeconomic drivers “have remained favourably orientated”.
It goes on, “While the pace of growth in the global economy has been slower than anticipated, it has nevertheless supported international visitor arrivals growing above trend, as both the depreciation of the Australian dollar and a sharp fall in oil prices — which both increases income growth and reduces the cost of travel — have buoyed demand for the Australian experience.
It points out that while forecasts for near-term economic growth have been downgraded, growth among Australia’s tourism source markets is nevertheless forecast to strengthen along with the outlook for tourism.
Unsurprisingly, the Deloitte forecasters believe that what they call “emerging Asia” will continue to be the driving force, accounting for 60% of growth, although the outlook for several of Australia’s traditional markets is also getting stronger.
Over the coming three years, Chinese tourism is set to grow by 8.3% with south-east Asia, including India in close second place with a predicted 7.4% growth. Respectable growth levels are also expected from North America (4.6%) and the UK (3.7%).
Source: Backpacker Trade news