It is projected that travel and tourism will play a significant role in Australia’s economy in 2024, surpassing previous records. After the challenges brought by COVID-19 in 2020, the sector is expected to generate $265.5 billion (US$177 billion), marking a 10 percent contribution to the nation’s economy. This growth follows the industry’s recovery to pre-pandemic levels in 2023.
The World Travel and Tourism Council forecasts continued growth over the next decade, with the sector’s contribution to the economy expected to exceed $345 billion (US$230 billion) by 2034. This growth will support over two million jobs in Australia, representing 12 percent of the workforce.
Employment in travel and tourism saw a significant increase last year, reaching 1.42 million jobs, and is projected to surpass 2018 levels by 2026.
According to the council president Julia Simpson, Australia is on track to break tourism records, showcasing dynamic growth and economic recovery in the sector. Fitch Ratings agency predicts a full recovery of international tourism in the Asia-Pacific region by the first half of next year.
In Victoria, the tourism and aviation sectors are set to receive a boost with new non-stop flights between Shanghai and Melbourne, expected to create jobs and stimulate the state’s economy. Melbourne Airport exceeded pre-pandemic international capacity in December, with global travelers contributing significantly to the state’s economy.
Australian Tourism Export Council chief Peter Shelley notes a slow but steady recovery in inbound travel, with Australians also showing a strong interest in overseas holidays. Google data reveals top travel trends for 2024, including immersive cultural experiences and AI-driven trip planning.
Last year, domestic visitors set a spending record in Australia, with projections indicating continued growth in the coming years. Despite border restrictions, overseas visitor spending surged in 2023, positioning Australia as a top destination for international travelers.
The outlook for the tourism sector in Australia remains positive, with expectations of sustained growth and record-breaking figures in the years to come.
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