New Report Available: Australia Tourism Report Q1 2015
New Consumer Goods market report from Business Monitor International: "Australia Tourism Report Q1 2015"
[USPRwire, Fri Jan 09 2015] The Australia tourism report examines a range of key market indicators in this robust Asia Pacific tourist destination, including the expected increases in outbound and inbound travel, the boo st this will provide to tourism- related expenditure, and the steady rise in industry value throughout our forecast period through to 2018. Domestic economic growth and improving transport connections point towards a bright future for tourism in Australia.
Australia's tourism arrivals, particularly those from Western states such as the UK and the USA, were affected by the global credit crunch, and the country remains vulnerable to any economic downturn in these key source markets. However, Australia has successfully diversified its tourism market to encompass many major regional economic powers, including China, that are steadily sending more visitors to Australian shores. Indeed, many Australian hospitality firms are actively targeting affluent Chinese visitors as a major potential growth area. Overall, we expect to see growth in arrivals from all areas between 2015 and 2018, with inbound travel forecast to increase from 7.4mn to 10.0mn.
Despite robust growth in arrivals, outbound travel from Australia will continue to outweigh the inbound travel market. Australia is experiencing steady GDP growth along with an increase in private financial consumption and greater propensity for overseas travel. While growth rates will not be as substantial as that seen in arrivals, outbound travel is still expected to increase steadily from 14.6mn in 2015 to 16.0mn in 2018. As with arrivals, destinations in the Asia Pacific region are proving increasingly popular.
Australia is well prepared to keep up with the expected increases in demand. The country has no shortage of tourist attractions, and outside of major cities such as Sydney and Melbourne, a great deal of real estate opportunity remains. The transport network, including domestic rail and far-ranging international...
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.
Key Benefits
* 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.
About Fast Market Research
Fast Market Research is a leading distributor of market research and business information. Representing the world's top research publishers and analysts, we provide quick and easy access to the best competitive intelligence available. Our unbiased, expert staff is always available to help you find the right research to fit your requirements and your budget.
For more information about these or related research reports, please visit our website at http://www.fastmr.com or call us at 1.800.844.8156.
You may also be interested in these related reports:
