Tourism Innovation
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Curated by Andrea Rossi
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Australia’s tourism industry to exceed $129 billion by 2021

Australia’s tourism industry to exceed $129 billion by 2021 | Tourism Innovation | Scoop.it

According to business information analysts at IBISWorld, the lucrative tourism industry, currently worth an estimated $118 billion in revenue and employing more than 543,000 across the nation, is set to grow strongly over the next five years. Tourism is becoming one of the world's nation's fundamental export industries, with industry revenue forecast to reach $129.7 billion by 2020-21 as the industry anticipates an increase in inbound tourism from Asia. China is now one of the industry's most valuable markets, outspending visitors from the United Kingdom by 50 per cent. Over the next five years, India is expected to follow suit, driving by a growing middle class and an increase in the number of Indian students choosing to study in Australia. Australia's top five most valuable tourism markets in 2014/15 also included the traditional markets of the UK, US and New Zealand. Find out more.


Via Tourism Australia
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Travel Boom: Young Tourists Spent $217 Billion Last Year, More Than Any Other Group

Travel Boom: Young Tourists Spent $217 Billion Last Year, More Than Any Other Group | Tourism Innovation | Scoop.it

Backpackers may finally be getting some respect – at least from an economic standpoint.Young people are traveling more, staying away for longer periods of time and spending more money, a new report indicates.

 

In 2012, $217 billion of the $1.088 trillion tourism “spend” worldwide came from young travelers, an increase that vastly outstripped that of other international travelers, according to a new study of youth and student travel released by Amsterdam-based World Youth Student and Educational Travel Confederation. Young travelers now represent 20 per cent of international tourism, making the group an important economic force.


Via Tourism Australia
Andrea Rossi's insight:

"The change in motivation behind traveling is one of the starkest shifts in trends the youth travel sector has seen in the last five years"

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