Tourism worth $73bn: report
Monday, 16th April, 2012
Latest research on the income tourism brings to the nation has it at $73.3 billion and that figure is rising.
A report released this month by Tourism Research Australia (TRA) notes additionally the indirect value of the industry, courtesy of the Australian Bureau of Statistics is $34.6 billion.
TRA’s report reveals that in 2010-11, the industry indirectly contributed a further $38.7 billion to GDP, bringing tourism’s total contribution to $73.3 billion - an increase of around $1.9 billion on the previous financial year.
Interestingly in light of the major industry in Broken Hill, research shows that tourism’s contribution to the Australian labour force is larger than that of mining, with 907,100 people directly and indirectly employed by spending on tourism - up from 874,000 jobs in 2009-10.
Minister for Tourism, Martin Ferguson said the report makes clear the true value of tourism and its vital importance to Australia’s social and economic growth.
“The tourism industry is significant to the whole economy including sectors such as manufacturing which benefits to the tune of $5.6 billion and almost 60,000 jobs,” Minister Ferguson said in a statement.
“For every one-dollar increase in tourism output, an additional 92 cents is generated in the rest of the economy. This is stronger than for other important drivers of the Australian economy including mining, retail trade, and education and training.”
Minister Ferguson said the figures also demonstrate the resilience of the tourism industry.
“Despite natural disasters, economic woes in key markets overseas and the high Australian dollar, total tourism GDP increased by around 2.7 per cent in 2010-11.
“Together with industry and through the Tourism 2020 Strategy, the Government is working to build on this growth by addressing skills and training, innovation, quality and investment in tourism products.
“In addition Tourism Australia has expanded its marketing in Asia, particularly in China, to assist the sector in gaining the maximum benefit from the growth in Asian markets.”