Travel & Tourism - Australia | Statista Market Forecast

In Australia, the Travel & Tourism market is expected to reach a revenue of US$15.21bn by 2024.
It is projected to display a Compound Annual Growth Rate (CAGR) of 4.20% from 2024 to 2029, resulting in a market volume of US$18.68bn in 2029.
The largest market in the Australian Travel & Tourism market is the Hotels market, with a projected market volume of US$7.03bn in 2024.
The number of users in the Hotels market is expected to reach 15.69m users by 2029, with a user penetration of 74.5% in 2024 and an expected increase to 88.4% by 2029.
The average revenue per user (ARPU) is expected to be US$764.50.
By 2029, 75% of the total revenue in the Australian Travel & Tourism market will be generated through online sales.
In comparison to other countries, United States is expected to generate the most revenue in the Travel & Tourism market, with a projected revenue of US$214bn in 2024.
Australia's Travel & Tourism market is experiencing a rise in domestic tourism due to international travel restrictions.

Definition:

The Travel & Tourism market encompasses a diverse range of accommodation services catering to the needs and preferences of travelers. This dynamic market includes package holidays, hotel accommodations, private vacation rentals, camping experiences, and cruises.

Structure:

The market consists of five further markets.

The Cruises market covers multi-day vacation trips on a cruise ship. The Cruises market encompasses exclusively passenger ticket revenues.
The Vacation Rentals market comprises of private accommodation bookings which includes private holiday homes and houses as well as short-term rental of private rooms or flats.
The Hotels market includes stays in hotels and professionally run guest houses.
The Package Holidays market comprises of travel deals that normally contain travel and accommodation sold for one price, although optional further provisions can be included such as catering and tourist services.
The Camping market includes bookings at camping sites for pitches using tents, campervans, or trailers. These can be associated with big chains or privately managed campsites.

Additional Information:

The main performance indicators of the Travel & Tourism market are revenues, average revenue per user (ARPU), users and user penetration rates. Additionally, online and offline sales channel shares display the distribution of online and offline bookings. The ARPU refers to the average revenue one user generates per year while the revenue represents the total booking volume. Revenues are generated through both online and offline sales channels and include exclusively B2C revenues and users for the above-mentioned markets. Users represent the aggregated number of guests. Each user is only counted once per year. Additional definitions for each market can be found within the respective market pages.

The booking volume includes all booked travels made by users from the selected region, independent of the departure and arrival. The scope includes domestic and outbound travel.

Prominent players in this sector include online travel agencies (OTAs) like Expedia and Opodo, as well as tour operators such as TUI. Specialized platforms like Hotels.com, Booking.com, and Airbnb facilitate the online booking of hotels and private accommodations, contributing significantly to the market's vibrancy.

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Bookings directly via the website of the service provider, travel agencies, online travel agencies (OTAs) or telephone

Business trips
Other forms of trips (e.g. excursions, etc.)

Australia's Travel & Tourism market is experiencing significant growth and development in recent years.

Customer preferences: Travelers in Australia are increasingly seeking unique and authentic experiences, moving away from traditional tourist attractions towards more off-the-beaten-path destinations. There is a growing demand for sustainable and eco-friendly travel options as awareness of environmental issues rises among consumers.

Trends in the market: One notable trend in the Australian Travel & Tourism market is the rise of domestic tourism. With international travel restrictions in place, more Australians are exploring their own backyard, leading to a boost in the domestic tourism sector. Additionally, there is a growing interest in adventure tourism and outdoor activities, with travelers looking to engage in activities such as hiking, surfing, and wildlife encounters.

Local special circumstances: Australia's unique geography and diverse ecosystems make it a prime destination for nature lovers and outdoor enthusiasts. The country's stunning landscapes, including the Great Barrier Reef, Uluru, and the Great Ocean Road, attract millions of visitors each year. The rich indigenous culture of Australia also plays a significant role in shaping the tourism industry, with many travelers seeking to learn more about the country's Aboriginal heritage.

Underlying macroeconomic factors: The strong Australian economy and stable political environment have contributed to the growth of the Travel & Tourism market in the country. Government initiatives to promote tourism, investments in infrastructure, and the development of new tourism products have also played a key role in driving the industry forward. Additionally, the depreciation of the Australian dollar has made the country a more affordable destination for international travelers, further boosting the tourism sector.

Data coverage:

The data encompasses B2C enterprises. Figures are based on bookings, revenues, and sales channels of hotels, vacation rentals, cruises, package holidays, and camping.

Modeling approach:

Market sizes are determined through a bottom-up approach, building on a specific rationale for each market. As a basis for evaluating markets, we use financial reports, the Global Consumer Survey, third-party studies and reports, data from industry associations (e.g., UNWTO), and price data of major players in respective markets. To estimate the number of users and bookings, we furthermore use data from the Statista Consumer Insigths Global survey. In addition, we use relevant key market indicators and data from country-specific associations, such as country-related GDP, demographic data (e.g., population), tourism spending, consumer spending, internet penetration, and device penetration. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, ARIMA, which allows time series forecasts, accounting for stationarity of data and enabling short-term estimates. Additionally, simple linear regression, Holt-Winters forecast, and exponential trend smoothing methods are applied. A k-means cluster analysis allows for the estimation of similar countries. The main drivers are tourism GDP per capita and respective price indices.

Additional notes:

The data is modeled using current exchange rates. The market is updated twice a year in case market dynamics change.

This report presents a comprehensive analysis and additional information on the Mobility market, in a PDF format.

Business or corporate travel is the tourism segment that focuses on people who travel for work or professional purposes and the related tourism services. This branch also includes the meetings industry, which refers to business events, conferences, congresses, trade fairs, and exhibitions. According to the World Travel and Tourism Council (WTTC), business travel accounted for 20 percent of the global tourism expenditure in 2021. In that year, it was estimated that business travelers spent more than 740 billion U.S. dollars worldwide, with Chinese tourists topping the ranking of the biggest business travel spenders.