Why tourism could replace mining as Australia's biggest export

As question marks remain over the longevity of Australia’s resources boom, tourism looks set to pick up the slack. Economists predict that the

tourism industry could replace mining as Australia’s biggest export. SiteMinder explores the figures as released by Tourism Australia...

Why tourism could replace mining as Australia's biggest �port

Why tourism could replace mining as Australia's biggest �port

*Source: Tourism Australia July 2015

$32.5bn 10% 7%6.5

million231

million$2.9billion+

6.5 million visitors to Australia spent a record-breaking

$32.5 billion(year ending March 2015)

...that means tourists spent an extra $2.9

billion compared with the year before - up 10%

Visitors are staying for longer, too - number of nights spent up 7% to

231 million

Why tourism could replace mining as Australia's biggest �port

*Source: Tourism Australia July 2015

from

$1.5 billionin 2006

to

$6.4 billionin 2015

Chinese New Year celebrations

�e 2015 AFCAsian Cup

�e 2015 ICC Cricket World Cup

Chinese visitors wereattracted by:

China’s contribution to Australian tourism

has increased 20% in less than 10 years:

Why tourism could replace mining as Australia's biggest �port

*Source: Tourism Australia July 2015

Cricket attracted the largest number

of Indian visitors ever to travel to

Australia - 23,400 in one month

Visitors from India have increased by 78% since 2010 - second only to China at 137%

To put this into perspective, theincrease for all other countries

combined has been 16%.

Tourism 2020 has s� strategic focus areas: Grow demand from Asia

Build competitive digital capability

Encourage investment and implement the regulatory reform agenda

Ensure tourism transport environment supports growth

Increase supply of labour, skills and Indigenous participation

Build industry resilience, productivity and quality

Why tourism could replace mining as Australia's biggest �port

*Source: Tourism Australia July 2015

1

2

3

4

5

6

Tourism 2020 is a ‘whole of government’ approach.It aims to increase tourism’s contribution to GDP by up to 50% - that’s $51 billion by 2020.

Why tourism could replace mining as Australia's biggest �port

*Source: Tourism Australia July 2015

10%

535,000

Weak Australian dollar is boosting tourism

Visitors from the United States up 10% to 535,000

- spending $2.9 billion,up 14%

Results from the UK remain soft

- 631,000 visitors spent $3.5 billion

$3.5bn$3.5bn

Why tourism could replace mining as Australia's biggest �port

Source: Tourism Australia July 2015, Australian Bureau of Statistics, Sydney Morning Herald

11% 2.5%GDP

Value of inbound tourism for May 2015

was up 11% year-on-year

Total tourism income for the year ending May 2015

stood at $17 billion - beating coal at

$16.5 billion

Visitor spend on flights, accommodation, restaurants,

and experiences now accountfor 2.5% of GDP - coal contributes

2.3% and iron ore 2.7%

TOURISM$17bn

COAL16.5bn

“Tourism has overtaken coal to become Australia’s second-largest �port. Tourism may also soon overtake iron ore, Australia’s largest �port, given we �pect the price of iron ore to remain under pressure.” - Barclays chief economist Kieran Davies

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“Tourism has overtaken coal to become Australia’s second-largest �port. Tourism may also soon overtake iron ore, Australia’s largest �port, given we �pect the price of iron ore to remain under pressure.” - Barclays chief economist Kieran Davies