Tourism Research Australia released Tourism Forecasts 2017 this week.
If the predictions are accurate, tourism expenditure in Victoria will reach $36.6 billion by 2027.
The expected growth is due to increasing consumer confidence, an upturn in investment and continued strong growth in emerging Asian economies.
Domestic tourism will see modest growth, reaching $21 billion in ten years. That’s why our marketing efforts targeting the Melbourne short break market are important – to grow our share.
Most of the growth is likely to come from international visitors, with growth of between 6 – 7% per annum expected.
In Victoria, international visitation will account for 72% of the total growth in tourism expenditure. By the end of this forecast China is expected to account for almost half of Victoria’s total international visitor spend.
These numbers tell us it’s more important than ever to make sure you’re active in the international space.
If you’d like more information about the opportunities available for our international partnership programs, let us know.
To explore the research in more detail, head to Tourism Research Australia