How did Australia’s recent growth boost impact its tourism industry?
As Australia’s booming economy is seen as a big economic driver, it’s worth remembering that its growth is mostly driven by tourism, according to the latest figures from the Australian Bureau of Statistics (ABS).
A tourism industry is a group of activities that involve visitors spending money, goods and services, and contributing to the local economy.
The Australian Bureau has calculated the value of tourism-related exports in the last decade, based on data collected by the Australian Government and released last week.
These numbers show that Australia’s GDP was $2.7 trillion in 2011-12.
Tourism, however, accounts for just 2.2 per cent of Australia’s overall economy, and that number is forecast to grow to 5.5 per cent by 2021-22.
“In many countries, tourism is an important part of the economy,” says Dr John Smith, the director of the Centre for the Study of Tourism and the Environment at Griffith University.
“This is particularly true for the developing world where the tourism industry relies heavily on foreign labour.
The value of Australian exports is closely tied to its tourist-based economy. “
If it were, there would be no need for governments to support it.”
The value of Australian exports is closely tied to its tourist-based economy.
In a nutshell, Australian tourists spend a lot of money on things like food, accommodation, alcohol and entertainment, all of which make up about 40 per cent or more of the value chain in the economy.
A large number of Australian businesses depend on tourists to generate revenue.
Tourism tourism tourism Tourism is an international economic activity that is largely driven by the tourism sector.
This means that, in the long run, it can be seen as an indicator of economic activity, because tourism contributes a large amount of the country’s GDP.
But it’s important to realise that the value created by tourism can also be a function of its costs.
For example, Australia’s tourism sector produces some of the lowest wages in the developed world, which is partly because it’s dominated by low-paid workers.
The OECD, a body of economists that tracks the economic performance of economies around the world, recently concluded that the average income of an Australian working person is about 30 per cent below the OECD average, compared to a world average of about 70 per cent.
The average Australian’s standard of living is not that high.
In the US, the average wage for a full-time worker is $32,400.
But that’s less than a third of what the average Australian working man or woman makes.
The typical Australian working day is also longer than average, which means more people are working.
The result is a lower level of overall economic activity and lower levels of income.
The economic impact of tourism tourism is not limited to just the tourism-driven tourism industry.
Australia has been a major exporter of Australian goods and Australian services to other countries, like China, India and Brazil.
Australia also has a significant business presence in Asia, where most of its exports are sourced.
It is important to recognise that these activities are not directly affected by Australia’s growing economy.
It’s more important to understand the role tourism plays in a country’s economy to make sure that its businesses are fully integrated.
“Australia has always been a good example of how tourism contributes to the growth of a country,” says Ms Manners.
“It provides jobs, it provides economic activity to the people who work there and it brings new people to the country and makes it easier to do business.”