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TTF-Mastercard survey finds Australian tourism industry optimism at an all-time high


Issues & Trends – March 2014

TTF-Mastercard survey finds Australian tourism
industry optimism at an all-time high

THE latest edition of the TTF-Mastercard Tourism Industry Sentiment Survey reports that Australian tourism operators have rated the sector’s performance in the December quarter at the highest level since the survey’s inception.

The easing dollar and growing domestic and international visitation are fuelling confidence, according to a TTF statement issued in conjunction with the release of the survey at the “Leadership 2014” event at Parliament House in Canberra earlier this month.

Leadership 2014 facilitates TTF’s dialogue with the Federal Government and Opposition on key issues facing the tourism, transport and aviation sectors.

TTF chief executive Ken Morrison said the survey paints a positive picture for tourism.

“Respondents rated the tourism industry’s performance in the December quarter at record levels, with the international performance index at 139 and domestic performance at 125, both well above the average for this time of year and the highest since the survey’s inception,” he said. “We are also seeing positive sentiment about key business indicators including forward bookings, sales and profitability.

“The survey also reveals near-unanimous support for tourism’s capacity to be an economic development strategy for Australia.

“Tourism has been identified as one of five super-growth sectors capable of contributing an additional $250 billion to the national economy over the next 20 years, given Australia’s competitive advantages in this area.

“As the mining investment boom wanes and the Australian economy continues to change, the government will be looking to other sectors to provide job and business opportunities.

“One respondent (to the survey) noted that: ‘Tourism is a natural replacement for the shrinking manufacturing industry and has the opportunity to create jobs in a sustainable way’.”
Morrison added that the easing dollar has seen tourism industry concern about the exchange rate falling to its lowest level.

He said that where respondents’ disquiet is on the increase, they have expressed “upside concerns” including destination reputation and inadequate room supply.

“Visa reform is also seen as a key issue by the industry, especially mov-ing to online processes in a range of languages, along with the cost of appli-cations and the provision of multi-year visitor visas,” Morrison said.

 

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