New forecast reinforces regional tourism potential

The latest tourism forecast reinforces the potential for tourism to be an economic development strategy for Australia, according to the Tourism & Transport Forum (TTF).

Tourism Research Australia (TRA)'s latest Tourism Forecasts predict that international arrivals will accelerate to a growth rate of 6.6% in the 2013-14 financial year to 6.6 million, while domestic visitor nights will increase by 2.0% to 293 million.

TTF Chief Executive Ken Morrison said the figures are yet more evidence of the potential for tourism to deliver economic growth for Australia, stating "this latest forecast shows the opportunity that tourism provides for the Australian economy as the mining investment boom subsides.

"Tourism already directly employs more 532,000 people in more than 280,000 businesses across Australia but we have the chance to grow this contribution even further.

"The mining boom may be waning, but the people boom out of Asia is just beginning and the right investment in demand-driving infrastructure and tourism marketing can help Australia maximise the opportunities of the burgeoning global travel sector.

"Earlier this month, Deloitte named tourism as one of five super-growth sectors where Australia has a competitive advantage and that can help to deliver future economic prosperity.

"In addition, new analysis being released in Singapore today shows that the Asia-Pacific travel market is now the world's largest and is expected to be worth US$352 billion this year.

"The PhoCusWright research also forecasts that the Asia-Pacific travel market will be worth an astonishing US$407 billion in 2015, with China responsible for a third of that amount.

"These are extraordinary figures which only serve to emphasise the need for Australia to continue to improve its competitiveness and build its aviation and accommodation capacity."