Boston, MA -- (ReleaseWire) -- 07/10/2014 -- BMI expects to see healthy growth across a range of key indicators for Australia's tourism market throughout our forecast period. Already a well-established and popular destination in the Asia Pacific region, we expect to see healthy increases in the number of inbound arrivals to Australia, while a strong domestic economy will boost outbound travel.
Arrivals to Australia took a hit in 2011, when annual growth dipped to just 0.07% thanks to the lingering effects of the global credit crunch. Indeed, Australia is particularly vulnerable as an expensive long-haul destination. However, 2012 and 2013 saw more positive growth, with arrivals reaching 6.3mn in 2013. We expect to see annual growth of around 8% throughout the forecast period leading to an annual arrivals figure of over 9.3mn in 2018. Some potential visitors, and investors, may be deterred by the strength of the domestic economy, which is increasing costs.
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On the other hand, annual GDP growth, combined with lowering unemployment and increased private financial consumption, points to a healthy picture for outbound travel, and we expect to see growth in the number of tourists from Australia throughout our forecast period. By 2018, departures are expected to reach 16.0mn, up around 2.3mn on the 2013 departures figure. This represents an average departure per 1,000 of the population figure of 0.64.
The tourism market is supported by Australia's well-developed transport infrastructure. The country has several major international airports, while smaller local airports facilitate domestic travel. There are also extensive road and rail networks. The hotel sector is very established in major cities such as Canberra, Sydney and Melbourne; however, opportunities for development both there and further afield remain abundant.
Key developments and forecasts include:
- Expansion plans are under way at Perth, Canberra, Melbourne and Brisbane airports, which will aid long-term expansion of the market.
- Outbound travel is...
The Australia Tourism Report has been researched at source and features Business Monitor International (BMI)'s independent assessment and forecasts for tourist expenditure; government expenditure on tourism; passenger arrivals and departures by mode of transport, reason for travel, origin and destination; and the accommodation market.
BMI's Australia Tourism Report provides industry professionals and strategists, corporate analysts, associations, government departments and regulatory bodies with independent forecasts and competitive intelligence on the Australian tourism industry.
- Benchmark BMI's independent tourism industry forecasts for Australia to test other views - a key input for successful budgetary and planning in the Australian tourism market.
- Target business opportunities and risks in the Australian tourism sector through our reviews of latest industry trends, regulatory changes and major deals, projects and investments in Australia.
- Assess the activities, strategy and market position of your competitors, partners and clients via our Company Profiles (inc. KPIs and latest activity).
BMI Industry View
This contains a synopsis of our forecasts, and any changes, together with an overview of key trends and developments in the tourism industry, and an assessment of the impact of various economic and national factors which might affect the sector. It also covers new transport projects, new hotel developments, and acquisitions.
Industry SWOT Analysis
Analysis of the major Strengths, Weaknesses, Opportunities and Threats within the tourism sector and within the broader political, economic and business environment.
BMI Industry Forecast Scenario
Forecasts to end-2018 for all key indicators (see list below), supported by explicit assumptions, plus analysis of key downside risks to the main forecasts:
Inbound tourism: Arrivals (?000), arrivals growth (% y-o-y), arrivals by region, growth (% y-o-y), arrivals by country, growth (% y-o-y), top 10 countries based on arrivals, growth (% y-o-y).
Outbound tourism: Departures (?000), growth (% y-o-y), departures by regional destination (?000 and growth % y-o-y).
Travel: Methods of travel for arrivals (Air, Ship, Rail), (?000) and (% growth y-o-y), international Tourism receipts for transport (US$bn), (growth % y-o-y), international Tourism receipts for travel items (US$bn), (growth % y-o-y).
Hotels: Hotel industry value (US$bn), (growth % y-o-y), (%GDP), (per capita), (per employee), number of hotels and like establishments (?000), (growth % y-o-y), total overnight stays, (?000), (growth % y-o-y), length of stay, occupancy rate (%), number of hotel rooms, (?000), (growth % y-o-y).
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