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New Market Report Now Available: Travel and Tourism in Australia to 2018

New Consumer Goods market report from Timetric: "Travel and Tourism in Australia to 2018"

 

Boston, MA -- (ReleaseWire) -- 05/01/2014 -- Under its Tourism 2020 plan, the Australian government considers tourism to be a priority sector. It intends to provide support to key competitors via the state and territory governments to increase the total overnight expenditure to AUD140 billion (US$147 billion) by 2020.

The main components of Tourism 2020 are to expand tourist inflows and expenditure from key Asian markets, build digital capabilities, encourage investment by implementing regulatory reforms and to increase the sector's labor supply. Economic growth will help support government efforts to strengthen the sector. Australia's economy grew at a compound annual growth rate (CAGR) of 4.0% in 2013, the fastest rate of growth since 2007.

Despite a host of challenges, including the appreciation of the Australian dollar and the rising popularity and increasing accessibility of new destinations, the nation's total international arrivals increased by 5.1% in 2013 to reach 6.15 million tourists.

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Report Highlights

- Under its Tourism 2020 plan, the Australian government considers tourism to be a priority sector. It intends to provide support to the key competitors via the state and territory governments to increase the total overnight expenditure to AUD140 billion (US$147 billion) by 2020. The main components of Tourism 2020 are to expand tourist inflows and expenditure from key Asian markets, build digital capabilities, encourage investment by implementing regulatory reforms and to increase the sector's labor supply. Despite a host of challenges, including the appreciation of the Australian dollar and the rising popularity and increasing accessibility of new destinations, the country's total international arrivals increased.
- According to the Australian Department of Infrastructure and Transport Statistics, of all of Australia's domestic routes, Melbourne-Sydney was the busiest in 2011-2012 with a 14% share of the total domestic passengers carried. It was followed by Brisbane-Sydney (8%) and Brisbane-Melbourne (5.8%). Of the international routes, Auckland-Sydney was the busiest with a 4.8% share of all international passengers carried. It was followed by Singapore-Sydney (4%) and Singapore-Melbourne (3.7%).
- Tourism Australia, in association with 94 partner organizations which include state and territory governments, developed the 'No Leave, No Life' campaign in 2009 with an investment of AUD4 million (US$3.1 million), in order to promote domestic tourism. The campaign encouraged Australians to use their 123 million days of accrued leave for a domestic holiday. Although Australia's tourism sector benefitted from an economic stimulus package, general economic uncertainty limited domestic tourism expenditure growth. Domestic travel has also been curtailed by extreme weather events such as cyclonic winds, heavy rainfall and forest fires.

Companies Mentioned in this Report: Virgin Australia Holdings Ltd, Jetstar Airways Pty Ltd, Singapore Airlines Australia, Tiger Airways Australia Pty Ltd, Choice Hotels Australasia Pty Ltd, Accor Hotels Australia, Best Western Australasia, Mantra Group, InterContinental Hotels and Resorts Australia, Stella Travel Services (Australia) Pty Ltd, Qantas Holidays Ltd, STA Travel Pty Ltd, travel.com.au Ltd, Redspot Sixt Rent a Car, Avis Australia, Hertz Australia Pty Ltd, Alpha Car Hire Pty Ltd, Budget Rent a Car Australia Pty Ltd, Qantas Airways Ltd, Flight Centre Ltd

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