The restrictions imposed on travel and tourism due to the COVID-19 pandemic were anticipated to have caused domestic luxury tourism in Australia to generate only half of their 2019 revenue in 2020. Even by 2024, the country isn't expected to see a full recovery in revenue for this tourism segment. Meanwhile, Australia's international luxury tourism is anticipated to bounce back by 2022 from its projected 75 percent loss in revenues between 2019 and 2020. This sector could even reach revenues doubling the pre-pandemic numbers by 2024, when an estimated eight billion U.S. dollars could be generated. These and other forecasts were published in a Statista study on luxury travel and tourism amid the pandemic.
Luxury tourism revenue in Australia from 2019 to 2024, by market
(in billion U.S. dollars)
A country's luxury tourism revenue is defined as income generated by domestic and inbound international high-net-worth individuals (HNWIs) through the acquisition of consumer goods, services, and valuables for and during trips. HNWIs have net assets over one million U.S. dollars.
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Statista. (March 5, 2021). Luxury tourism revenue in Australia from 2019 to 2024, by market (in billion U.S. dollars) [Graph]. In Statista. Retrieved November 22, 2024, from https://www.statista.com/statistics/1071591/australia-luxury-tourism-revenue-origin/
Statista. "Luxury tourism revenue in Australia from 2019 to 2024, by market (in billion U.S. dollars)." Chart. March 5, 2021. Statista. Accessed November 22, 2024. https://www.statista.com/statistics/1071591/australia-luxury-tourism-revenue-origin/
Statista. (2021). Luxury tourism revenue in Australia from 2019 to 2024, by market (in billion U.S. dollars). Statista. Statista Inc.. Accessed: November 22, 2024. https://www.statista.com/statistics/1071591/australia-luxury-tourism-revenue-origin/
Statista. "Luxury Tourism Revenue in Australia from 2019 to 2024, by Market (in Billion U.S. Dollars)." Statista, Statista Inc., 5 Mar 2021, https://www.statista.com/statistics/1071591/australia-luxury-tourism-revenue-origin/
Statista, Luxury tourism revenue in Australia from 2019 to 2024, by market (in billion U.S. dollars) Statista, https://www.statista.com/statistics/1071591/australia-luxury-tourism-revenue-origin/ (last visited November 22, 2024)
Luxury tourism revenue in Australia from 2019 to 2024, by market (in billion U.S. dollars) [Graph], Statista, March 5, 2021. [Online]. Available: https://www.statista.com/statistics/1071591/australia-luxury-tourism-revenue-origin/
