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Last week the Government released the first tourism forecasts since 2017 reinforcing a positive outlook for the industry. Despite some shifting sands and global economic disruptions, our industry will continue to make a strong contribution to the Australian economy in the coming decade. Inbound spend is expected to grow at around 8% for the coming 12 months and we will double our income in ten years. That’s a big achievement and one that brings foreign money directly into our economy.
The stabilising of the China market over the medium term, growth in India - expected to be part of the top 5 source countries in 5 years - Indonesia and Malaysia recording double digit growth by 2021, are factors worth considering as part of our collective forward planning. It’s worth taking the time to have a look at the data and see what’s potentially on the horizon.
And while our members are focused on their business strategies, ATEC is looking to fix some of the policy handbrakes on our industry, particularly around visa access for international visitors. During the election the Federal Government promised a visa benchmarking study to look at how Australia’s visa processes measure up against our competitors. Ease of access to visas and uncomplicated processes can really affect the decision on where to travel for many of our emerging markets, so ensuring the welcome mat is out will be vital to our ability to really harness the potential outlined in the above forecast.
Meanwhile, plenty happening around our national branch network with WA about to launch a new Japan Host industry training program, while a good number of our leading buyers prepare to descend on Cairns for what promises to be another great ATEC Inbound Up North event next week.
All the best,