The popularity in travel abroad shows no sign of abating, with increased international travel forecast for the next five years.
According to IBISWorld, overseas travel by Australians will grow at an annualized 4% through 2023-24, to 13.3 million trips. And that’s obviously great news for anyone working in travel.
“Despite a weak Australian dollar, cheaper airfares and increased international airline capacity are anticipated to continue driving overseas tourism by Australians,” IBISWorld Senior Industry Analyst, Jason Aravanis said.
The biggest destinations for Australians are New Zealand, Indonesia, the US and the UK.
But big things are also forecast for domestic tourism, despite, or perhaps because of Australian households’ reduced disposable income.
New IBISWorld data shows that in the 12 months to March 2018, domestic visitor nights in Australia grew by 5% (to 350.6 million), while tourism spending by interstate and intrastate travellers rose 5% to $65.1 billion.
“Notably, this growth occurred despite a decline in real household discretionary incomes over the two years through 2017-18,” Mr Aravanis said.
“This may indicate that some households are forgoing expensive international trips in favour of cheaper tourism within Australia.”
Nature-based domestic tourism was flagged as a notable trend, with demand for bush walking, park visits, and botanical gardens from domestic tourists all up for the year.
IBISWorld predicts that Australia’s domestic tourism market will grow at an annualised 2.7% over the five years, to 425.5 million visitor nights.
As good as the news is for the domestic market, international visitation to Australia however has grown even more.
According to IBISWorld data, inbound tourism to Australia grew by 8% year-on-year to March 2018, as it reached a record high of 8.3 million visitors. Total spend also grew by 6% to $42.3 billion.
Despite falling slightly (-4%), the average length of stay for visitors down under was still a whopping 32 days.
IBISWorld forecasts predict that by 2023-24, around 12.8 million international tourist will visit our shores, including 2.8 million travellers from China.
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