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Boston, MA -- (SBWIRE) -- 10/20/2014 -- Tourism flows outbound continued to rise in 2013 up 7%, an increase from the 6% growth experienced in 2012. This growth occurred despite a depreciation of the Australian dollar, which had the effect of making outbound travel more expensive. Those destinations that have driven this continued growth are those that continue to be affordable to Australian holidaymakers, whether because of the expansion of low cost carrier airlines (Singapore, Malaysia), because poor economic conditions at the destination have resulted in inexpensive travel packages (Greece, Italy) or because they are an inherently affordable destination regardless of the exchange rate (Cambodia).
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Having soared with a CAGR of 9% over 2008-2013, outbound travel is likely to be somewhat more restrained over the forecast period. Much of the growth in outbound travel in recent years has been due to two factors: the high Australian dollar, which has made it more affordable for Australians to go on an overseas holiday, and the mining boom, which has provided Australian mining workers with the funds to spend much of their leisure time in Bali, Indonesia. With the Australian dollar likely to remain below parity with the US dollar over the forecast period, and with the mining boom having peaked, both factors are likely to fade, and growth of outbound departures will slow considerably over the forecast period, with a CAGR of only 4%.
Discover the latest market trends and uncover sources of future market growth for the Tourism Flows Outbound industry in Australia with research from Euromonitor's team of in-country analysts.
Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.
If you're in the Tourism Flows Outbound industry in Australia, our research will save you time and money while empowering you to make informed, profitable decisions.
The Tourism Flows Outbound in Australia market research report includes:
- Analysis of key supply-side and demand trends
- Detailed segmentation
- Historic volumes and values
- Five year forecasts of market trends and market growth
- Robust and transparent market research methodology, conducted in-country
Our market research reports answer questions such as:
- What is the market size of Tourism Flows Outbound in Australia?
- How big is outbound travel in terms of departures and spending?
- Which international destinations are the most popular?
- What are main methods of transport for travelling abroad?
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- Track key industry trends, opportunities and threats
- Inform your marketing, brand, strategy and market development, sales and supply functions
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