Australia Tourism Industry Analysis
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Being one of those five super growth sectors in Australia and having a potential to become the fastest growing industry in Australia- Tourism industry not only bring the wide range of benefits to Australia but also is the good opportunity for visionary investors. Also, with the support of government’s National Long-Term Tourism Strategy, it is expected that Australia’s tourism will achieve their full potential- a competitive, profitable industry with a bright future for the benefit of all Australians in 2020. Tourism is experiencing sustainable development and occupies an importance place in the national GDP, at 3,2% in 2016 showing that it is on the right track. However, the number of tourism businesses slightly fell overtime (4000 businesses from 2012 to 2016) is the need for new business to enter this industry to response for the trend of increasing international demand, especially for Asian countries.
TOURISM BUSINESSES IN AUSTRALIA.
There were 279,000 tourism businesses in Australia which is accounted for 13% of the total 2.2 million businesses at June 2016. Among those tourism businesses, 95% are small businesses which employ less than 20 workers. The 5% remaining belong to both large and medium businesses. However, large and medium businesses contributed two-thirds of total revenue of Australia’s industry in 2015-2016 and more than three-fifths of employment.
In the period of June 2012 to June 2016, there was the chances in the amount of exits and entries into tourism industry, according to Australian Bureau of Statistics data:
Micro – up 0.5% from 90,400 to 90,800
Small – up 2.5% from 52,300 to 53,500
Medium – up 3.7% from 13,400 to 13,900
Large – up 13.3% from 677 to 767.
There was an occur of structure consolidation within the industry that lead to the high growth rate of large businesses. However, the total number of tourism businesses fell by 1,4% (equivalent to 4,000 fewer businesses) from June 2012 to June 2016. The reason behind this was the fall of non-employing businesses by 5% from 126,300 to 120,000.
In term of revenue, small businesses and large businesses saw a rise in their revenue per business by 3.1% and 2.4% respectively between 2011-2012 and 2015-2016. On contrary, medium businesses