Australia travel & tourism sector showing positive signs of recovery: WTTC

 Friday, February 3, 2023 


With major cities welcoming travellers once again, the Australian Travel & Tourism sector has showed positive signs of recovery, as per the World Travel & Tourism Council (WTTC).

The direct contribution of Travel & Tourism to the GDP and jobs of Australian cities of Sydney, Melbourne, and Perth continues to rise, as per Cities Economic Impact Report. The report suggests that prolonged border closures in Australia and key markets such as China, means visitor spending numbers are still low.

The report, which analysed key Travel & Tourism metrics across 82 cities around the world, including contribution to GDP, employment and traveller spend, has been sponsored by Visa and researched in partnership with Oxford Economics.

The WTTC Cities Economic Impact Report shows that in 2019, the city’s Travel & Tourism sector contributed over AU$4.5BN to Perth’s economy, and AU$10BN and AU$13BN to Melbourne and Sydney’s economies respectively.

But the pandemic had a devastating effect on Australia’s national economy and the economies of its major cities, as the border closed to overseas visitors.

In Perth, Travel & Tourism’s contribution to GDP dropped by almost half (to just under AU$2.5BN) and in Sydney by almost two thirds (to AU$5BN) in 2020. In Melbourne, the GDP contribution dropped by almost three quarters to just AU$3BN the same year.

Melbourne saw a resurgence in 2021, rising to AU$4BN but both Sydney and Perth saw continued declines. Sydney dropped to just over AU$4BN and Perth to just over AU$2BN.

All three cities are now showing signs of recovery albeit at different paces.

Last year, Perth was showing the slowest signs of recovery with GDP contribution forecast to hover at half that it was in 2019, nearing AU$2.75BN.

“Australia is an incredibly vibrant country popular with overseas visitors, but as the borders remained closed at home and in Australia’s largest source markets the country has suffered for a longer period compared to other countries,” Julia Simpson, WTTC President and CEO said.

She added, “As China reopens the future looks bright for Travel & Tourism and the critical contribution it makes to Australia’s economy and jobs. It’s crucial that central and local government continue to recognise the economic and social importance of Travel & Tourism.”

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