The Australian tourism sector continues to go from strength to strength, underpinned by a
resurgence in international visitors brought about by steady growth in the Australian economy (+2.4% annual growth to December 2016), a depreciating Australian Dollar (albeit remaining resilient) and increases in household spending capacity as a result of historically low interest rates (cash rate sitting at 1.5%). In the 12 months to March 2017, 7.7 million international tourists visited Australia, up 9.2% from the prior corresponding period and well above the historical growth rate of 3.5% per annum. Highlighting the resilience of the sector, recent growth in international visitor numbers into Australia has come at a time when global financial markets have shown increased volatility.
Source : Knight Frank