Tourism and Hospitality
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Travel & Tourism
The Sectors
Retail
Wholesale
Visitor information services
Attractions
Events
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Economic
importance
As one of Australia’s fastest
growing industries Tourism has a significant impact on the Australian economy.
Over 1 million people are employed as a result of this industry. Other economic
benefits include business investment, foreign income, national, state and
regional growth as well as the positive impact on Australia’s balance of
payments.
Australia, as most countries is affected
by a global economy. This means that events in other countries can have a
direct impact on the Australian economy. For example the recent Asian crisis
has resulted in a significant reduction of Asian tourists to Australia.
Numerous businesses have been affected by this downturn, particularly if their
core business has been the Asian market. The Australian government and tourism
agencies have looked at deflecting this downturn by exploring and promoting new
markets. Increased marketing has taken place in Europe and the United States.
The current decreased value of the Australian dollar makes us a very attractive
destination to these new markets.
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