Latest stats confirm Tourism as a super-growth sector
Tourism’s economic contribution as one of five key super-growth sectors of Australia’s transitioning economy has been reinforced with today’s release of the Australian Bureau of Statistics Tourism Satellite Account for 2014-15.
Tourism’s direct contribution to the Australian economy was a staggering $47.5 billion in 2014-15 or 3.0 per cent of total Gross Domestic Product (GDP).
The strength of the industry is highlighted by the fact tourism GDP increased 5.3 per cent in 2014-15, which is more than three times the growth for the total economy.
The tourism sector continues to drive jobs and growth across Australia. In 2014-15, the number of people directly employed in the tourism industry reached 580,800, an increase of 6.3 per cent on 2013-14, with most of the growth in full-time employment underlining the strength of the sector.
When you take into account all related employment, tourism supports close to 1 million jobs, representing about 10 per cent of Australia’s total employment.
Continued growth in visitor numbers from Australia’s key inbound markets coupled with increased domestic visitation during 2014-15 led to strong growth in total tourism consumption of 4.3 per cent to $121.2 billion. Tourism is one of Australia’s largest export earners, with exports (consumption by international visitors to Australia) increasing 9.0 per cent to $30.7 billion in 2014-15 making up 9.6 per cent of total Australian exports.
The Australian tourism industry’s continuing run of record breaking numbers is a reflection of its importance as a key economic driver and the world-class experiences and attractions that Australia has to offer.