Published on 06/10/2015 by Punchmedia

Tourism Industry to Ride Wave of Chinese Visitors

In 2015-16, Chinese tourists are expected to contribute the largest amount of economic value to the Australian Tourism industry among all inbound tourism markets, according to a new IBIS World report.

The Report explained that the continued depreciation of the Australian dollar was expected to encourage inbound tourism, especially from emerging middle-class markets across Asia. Despite tough economic conditions of recent times the report said that the Hotels and Resorts industry responded strongly and was forecast to grow at an annualised 2.4% over the five years through 2015-16. This was put down to operators cutting prices and offering promotions to attract guests resulting in the industry posting modest revenue growth. According to the report stable business travel and rising international tourist demand is expected to boost industry revenue to $6.0 billion through 2015-16. Growth in inbound tourism, particularly from Chinese tourists, had supported and protected many industry operators in the face of growing competition. The Report estimated that 40% of industry revenue would be derived from the domestic tourist market, which consists of Australian residents travelling domestically for holidays or leisure adding that industry profitability was expected to account for 11.6% of revenue in 2015-16.

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Curtis is a leading expert in the business-for-sale industry, serving as a senior content creator at anybusiness.com.au.

With a career spanning over fifteen years, Curtis has accumulated extensive knowledge in the domain of business sales, acquisitions, and valuations. His deep understanding of market dynamics and his ability to translate complex industry jargon into accessible insights make him a trusted resource for entrepreneurs and business owners looking to buy or sell businesses.

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