Tourism and Hotel Market Outlook Released

Deloitte Access Economic’s Tourism and Hotel Market Outlook – Q2 2012 has just been released providing detailed and thought-provoking forecasts on the Australian domestic and international tourism markets up to 2014.

Unsurprisingly the report further indicates growth drivers will continue to be borne out of the booming mining sector and strong international visitor arrivals, particularly from emerging super-economies China and India. Additional emerging markets identified include our Asian neighbors Malaysia and Indonesia.

The continued strength of the Aussie dollar, which has more recently seen our currency reach its highest level since floating in 1983, whilst having minimal effect on inbound international tourism is predicted to present challenges for the local leisure tourism sector. On the plus side the report details evidence of much needed ‘stabilisation’ after a 10 year period of declining domestic trips taken and a fall in average length of stay. Detailed state-based reporting is included within the report available below for your reference.

The assertion ‘access to finance for new tourism projects is likely to remain difficult’ is in part true however opportunities for growth are still strong, particularly in the capital cities and there are a small number of major lenders who are receptive to well-packaged ventures. Securing a great finance deal comes down to policy knowledge, knowing which lenders to ask and ensuring your proposal is meticulously presented.

CLICK HERE to download your copy of Deloitte’s Tourism and hotel Market Outlook Q2, 2012