Tourism Outperforms National Economy – TTF

Published on : Thursday, December 19, 2013

ttfData from the 2012-13 Tourism Satellite Account shows both the value and potential of tourism as an economic development strategy for Australia, according to peak national industry body Tourism & Transport Forum (TTF).

TTF Chief Executive Ken Morrison said the figures show tourism has the potential to be a bigger driver of growth with the right support.

“Tourism brushed aside the impact of the strong dollar and sluggish global economy to grow more than 50 per cent faster than the Australian economy as a whole in 2012-13,” Mr Morrison said.

“The Tourism Satellite Account shows that tourism GDP rose 3.7 per cent compared to overall growth of 2.4 per cent.

“Just two days ago, Treasurer Joe Hockey sparked a national debate with his assessment of the state of the national budget.

“We need to back our strengths and recognise that tourism is an economic development strategy for Australia which can help to deliver future prosperity and provide job and business opportunities across the country.

“Tourism GDP reached $42.3 billion in 2012-13, contributing almost $116 million every day to the national economy.

“Total tourism consumption for 2012-13 was $110 billion, including $27.0 billion in tourism exports – spending by overseas visitors in Australia.

“This additional activity in the visitor economy supported growth in tourism employment, with the number of Australians directly employed in tourism rising 2.1 per cent over the year to 543,600, almost double the overall employment growth rate of 1.2 per cent.

“Appropriate levels of government support for marketing and investment in demand-driving infrastructure will allow tourism to more fully capitalise on the opportunities of the Asian Century and accelerate this growth.

“With mining investment waning and the ongoing decline in the manufacturing sector, tourism must be a priority for the federal government and state governments around the country.”

Source:- TTF


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