Tourism delivers $121 billion payday

IT’S a figure any CEO would love on their bottom line.

In just one year, tourism expenditure in Australia has grown by $6.3 billion to $121.2 billion, thanks to healthy increases in international and domestic visitor nights, as well as day-trippers.

To put it into context, the mining industry’s contribution to the Australian economy last year was also $121 billion.

The Tourism Research Australia figure represents all spending by domestic and international visitors on everything from gambling and shopping to hire cars and flights within the country.

Federal Trade and Tourism Minister Steve Ciobo said the “record spending was creating and supporting jobs across the country”.

And whereas uncertainty continues to dog the mining and resources industry, the future of tourism is bright, with key markets like the US, the UK and Asia growing strongly – on top of a resurgence in domestic tourism.

Tourism and Transport Forum CEO Margy Osmond said: “With each set of data coming out it is becoming more and more apparent that the visitor economy is the Australian economy’s great success story.

Deloitte Access Economics partner Adele Labine-Romain said the tourism expenditure was “extraordinary”.