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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.

“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.

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

Adam Zuchetti is the former editor of MyBusiness and a senior freelance media professional, specialising in the fields of business, personal finance and property. In 2020, he also embarked on his own business journey – inspired in part by the entrepreneurs and founders he had met through his journalistic work – with the launch of customised pet gifting and subscription service Paws N’ All.

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