Australian tourism and travel expected to grow by 2030

Published on : Tuesday, January 3, 2017

australia-tourismThe travel and tourism sector in Australia is expected to grow strongly, assisting Australia’s exports in the next 15 years. As predicted by HSBC Bank, this growth will be partly fuelled by a rise in real incomes in East Asia, especially China, and were part of the bank’s analysis of trade. HSBC accounted that tourism and travel related services, including educational tourism comprised almost 60% of Australia’s service exports in 2015. Overall service exports accounted for almost $US50 billion ($A69 billion) then

 

.
HSBC said, “As with education, demand from East Asia and in particular China has driven this growth, and Australia has become a popular overseas destination for Chinese tourists.” Personal travel apart from education has also grown rapidly in Australia over the last 15 years. Growth in tourism and travel exports is expected to increase by more than 7% annually between 2016 and 2030, as predicted by HSBC.

 

It also said that business to business services, such as financial services, would become an “increasingly important” source of revenue. The value of Australia’s services exports on the whole would rise almost 7.4% annually to reach $US144 billion by 2030 and raw materials would dominate Australia’s goods exports.

Related Posts

Tags:

Comments are closed.

arrow2Follow TTW
 
facebook-logo  twitter-logo  LinkedIn_logo  rss_logo 
ttw_blogger_logo  ttw_blogger_logo

ADVERTISEMENT

  • 02 ITB asia 2020
  • 11 Aviation Festival Asia 2020
  • 12 ITE Hong Kong 2020
  • 13 IMEX 20
  • 15 Digital Travel EU 2020
  • 15 Routes Asia 2020
  • 16 G&A 2020
  • 16 TAAPE 2020
  • 17 AAA-banner 2020
  • 18 WCTIE 2020
  • 20 GWS-2020
  • 23 emitt 21
  • 30 PATA

TRAVEL INDUSTRY EVENTS

    1. BTL 2020

      May 27 - May 31
    2. AIR CONVENTION ASIA 2020

      June 9 - June 11
    3. HOTELEX 2020

      June 15 - June 18
    4. B-TRAVEL 2020

      June 19 - June 21
    5. Forum de l’Investissement Hôtelier Africain

      July 7 - July 9
Get our toolbar!
Review www.travelandtourworld.com on alexa.com