Published on : Tuesday, October 8, 2013
The latest edition of Deloitte’s Building the Lucky Country series, Positioning for prosperity? Catching the next wave names tourism as one of five super-growth industry sectors which can add $250 billion to the Australian economy over the next 20 years.
TTF Chief Executive Ken Morrison said tourism’s potential is massive.
“In the lead up to the recent federal election, we released Australian Tourism: Backing Our Strengths – A National Agenda for the Australian Government, which identifies the potential for tourism to make up for declines in other sectors,” Mr Morrison said. “It includes a ten-point plan to grow tourism and details key policy areas that are central to the sector’s future success.”
“The Deloitte report backs TTF’s assertion that tourism is an economic development strategy for Australia, with global tourism expenditure forecast to double over the next 20 years.
“With the mining investment boom waning, Australia must move to re-position its economy for the future and with the people boom from Asia just beginning, tourism can help to generate additional economic activity, supporting jobs and business opportunities nationwide.”
Mr Morrison said it’s vital we make the most of this opportunity.
“The Deloitte report points to significant growth in global tourism over the next two decades but we cannot take the potential for granted,” Mr Morrison said.
“Industry and governments at all levels must work together to ensure that Australia capitalises on the opportunities offered by the Asian century.
“This means ensuring that Australia is a compelling and competitive destination for leisure, business events and education visitors.
“Tourism already generates more than $100 billion in expenditure every year, directly employs more than 530,000 Australians across the country and is Australia’s largest services export.
“With the right support and policy frameworks in place to attract investment and grow the workforce, tourism will reach the potential outlined in the Deloitte report and play an even bigger role in securing Australia’s economic future.”