Australia's visitor economy is forecast to bounce back to pre-pandemic expenditure this year, and grow to $227.7 billion by 2027, according to new forecasts out today.
In very welcome news for the sector, this year's annual Tourism Forecasts for Australia project a brighter future for the visitor economy from now until 2027.
International tourism will continue its recovery, with international visitor expenditure to exceed pre-pandemic levels in 2024, and visitor arrivals to top pre-pandemic arrivals by 2025.
This year, nearly 3.5 million international visitors are forecast to arrive in Australia, rising to 9.5 million in 2025 and 11 million in 2027.
By 2027, New Zealand Europe, the US, UK and India are projected be among our leading sources of international visitors, with China also expected to return to prominence over the forecast period.
Overseas holidays are also back on the cards for Australians, forecast to rise from 6 million departures for Australian residents in 2022 to 13.4 million in 2027, enabling us to reunite with family, pursue business opportunities, and engage with other cultures.
The recovery for our domestic travel has been much quicker, with overnight and day trip expenditure already surpassing pre-pandemic levels. While the recovery has been uneven across states and territories, visitor nights are forecast to be a minimum of 9 per cent higher that pre-pandemic in all states and territories by 2027.
I have been delighted to see Australians getting out and about around our country this year, and I look forward to our tourism and travel businesses welcoming more international visitors in coming years.
The Albanese Government is committed to supporting the visitor economy both now and in the future. Tourism is not only a major employer and export earner for Australia, it also showcases to the people of the world the cultures, landscapes, and attractions that make Australia unique.
While the pandemic stunted growth in international visitor numbers by several years, travellers are returning, and Tourism Australia's new global campaign is sure to convert the pent-up demand for an Australian holiday to see our iconic destinations and friendly faces, into bookings.
The recent Federal Budget provided $48 million in new funding to attract and skill-up workers, support quality tourism products, and deliver infrastructure upgrades. These initiatives add further impetus to Australia's national long-term strategy for the visitor economy, THRIVE 2030.
