logo
Receive the latest mybusiness news
SUBSCRIBE TO OUR NEWSLETTER
Copyright © 2020 MOMENTUMMEDIA

New record as overseas tourists splash the cash

Adam Zuchetti
Adam Zuchetti
06 September 2017 1 minute readShare

Spending by overseas tourists visiting Australia has reached a new all-time high, with businesses in virtually all states and territories benefiting from substantial growth.

Trade Minister Steven Ciobo welcomed the record $40.6 billion contribution overseas visitors made to the national economy in the 2017 financial year – the first time this figure has surpassed the $40 billion mark.

This, he said, represented a healthy 7 per cent increase on the previous year. Unsurprisingly, China made up both the largest number of tourists and the biggest spenders – with 1.2 million Chinese visitors shelling out $9.8 billion – 10 per cent up on a year earlier.

Advertisement
Advertisement

“During the past three years spending by international visitors has increased by 34 per cent,” Mr Ciobo said.

“The record spending is being driven by record numbers of international tourists who are staying longer and spending more while visiting Australia.”

 

Six states and territories enjoyed double digit percentage growth in tourist spending, led by the ACT, where spending rose by 27 per cent, followed by a 24 per cent increase in Tasmania.

Next was the Northern Territory (up 16 per cent), South Australia (12 per cent), and NSW and Victoria (11 per cent each). Western Australia managed an 8 per cent increase.

However, Queensland fell noticeably behind the rest of the nation, scraping together a much more modest 3 per cent rise. This was likely due in part, if not in full, by Cyclone Debbie, which devastated the Whitsundays area in March before wreaking havoc across the state and into northern NSW.

SPONSORED CONTENT

 

New record as overseas tourists splash the cash
mybusiness logo
Adam Zuchetti
Adam Zuchetti

Adam Zuchetti is the editor of My Business, and has steered the publication’s editorial direction since early 2016. 

The two-time Publish Awards finalist has an extensive journalistic career across business, property and finance, including a four-year stint in the UK. Email Adam at [email protected]

Leave a Comment

Why we’ll keep delivering for our communities in the face of COVID-19

alex

As Australia tries to keep pace with a rapidly changing business and social landscape in the wake of COVID-19, Momentum Media is leading the way delivering essential content to our communities, writes Alex Whitlock, director of MyBusiness.

Read more

Latest poll

Should the government make further amendments to JobKeeper?