Insights from the Australian Tourism Industry

• Main Authors: Corrine Dobson, Karen Hooper
• Format: Article in Journal/Newspaper
• Language: unknown
• Subjects: North Atlantic
• Online Access: https://www.rba.gov.au/publications/bulletin/2015/mar/pdf/bu-0315-3.pdf

Conditions in the tourism industry mirror many of the broader economic trends observed in the rest of the economy because tourism expenditure is discretionary and, like all trade-oriented industries, the tourism industry is exposed to developments in overseas markets and movements in the exchange rate. Over recent years, the Australian tourism industry has experienced challenging conditions. However, the fundamental conditions facing the industry have become more favourable, supported by improved economic conditions in key North Atlantic markets and the depreciation of the Australian dollar, as well as continued strong growth in tourism exports to China. This article examines recent developments in Australia’s tourism industry and how these relate to broader economic conditions. tourism; China; business travel; leisure travel