Tourism Destination Market Insight: Australia (2024)

Tourism Destination Market Insight: Australia (2024) Summary Analysis of destination markets, infrastructure and attractions, main and emerging source markets, as well as risks and opportunities in Australia. This report explores the types of travelers that visit the region as well as a SWOT analysis. Key Highlights - There are signs pointing to a possible increase in the appeal of Australia as a vacation spot for UK residents. Nevertheless, the year 2020 signifies a significant shift. The arrival numbers dropped significantly to only 200,000 visitors, which was a result of the global COVID-19 pandemic. - There are intriguing patterns in the projected Compound Annual Growth Rate (CAGR) for various tourist types from 2023 to 2028. Based on the data, it is evident that families have a strong inclination towards travel, with a projected CAGR (2023 to 2028) of 12.41%. - Adventure, wildlife, and urban tourism all add to the appeal that attracts these kinds of travelers. Moreover, Australia offers a wide selection of affordable hostels, making it an attractive choice for budget-conscious young travelers. - Australia's position within the Asia-Pacific tourism landscape is promising. Its well-developed infrastructure, diverse natural attractions, and reputation for safety position it as a leading tourist destination. However, focusing on diversifying tourism offerings, ensuring affordability, and prioritizing sustainable practices will be crucial for maximizing Australia's tourism potential and maintaining its competitive edge within the region. By capitalizing on its strengths and addressing areas for improvement, Australia can solidify its position as a must-visit destination for global travelers in the years to come. Scope - This report is part of GlobalData's Destination Market Insights Series. These reports provide an in-depth analys.is of a tourist destination and its key source markets, as well as an assessment of the trends and issues in the covered destination market, in this case Australia Reasons to Buy - Obtain a clear and detailed insight into new developments in two popular tourist destinations. - Use data and analysis to explore trends related to international arrivals and spending, tourism segments as well as construction, foreign direct investments (FDI), airlines and hotel developments. - Gain a better understanding of the opportunities in the market, as well as the risks, to support better business decisions.