Growth projected for Queensland tourism

BDO held its 2015 Economic and Political Update last week, canvassing a range of topics including recent and projected growth of the Queensland tourism sector.

Some of the key points uncovered were:

  • The lower Australian dollar is set to encourage even more inbound international tourists to the country, as well as Australians to holiday domestically.
  • Tourism Queensland’s International Tourism Snapshot for June 2015 recorded international visitor spending was up by 14.8% in Queensland (higher than the national average of 11%) and visitor numbers were up 7.7% for the year, with double digit growth in Townsville (26.7%), Fraser Coast (14.1%), Southern Great Barrier Reef (10.8%), Sunshine Coast (10.6%) and Whitsundays (10.2%).
  • Both of these points bode well for both domestic and international investment in the sector, including from key trade partners like China, Japan and the US, for which the lower Australian dollar will make investment more affordable.
  • Tourism/hotel operators should be looking to leverage that additional investment interest in areas that will help them reach new markets and boost their appeal to tourists, such as refurbishments, new or tailored dining and leisure facilities, technology and marketing including market research and strategic partnerships.

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