Bushfires will blast a $1 billion hole in tourism: Pete Wargent

Bushfires will blast a $1 billion hole in tourism: Pete Wargent
Bushfires will blast a $1 billion hole in tourism: Pete Wargent

EXPERT OBSERVER 

Permanent and long-term arrivals into Australia totalled 844,960 over the year to November, up 2 per cent from a year earlier, but just a notch lower over the past two months. 
 
Net of departures, total arrivals were around 297,000, implying population growth of around 380,000 or 1½ per cent after accounting for natural population growth (births minus deaths). 
 
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Asian century

Tourism was still romping along until November, on the back of the Asian century.
 
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And short-term international education arrivals hit yet another record high at 619,100 over the year to November. 
 
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Unfortunately, the raging bushfires will blast a $1 billion hole in the tourism figures, blowing yet another hole into the ailing Aussie economy.
 
The growth in short-term arrivals over the year to November was driven by Victoria (up 6 per cent year-on-year) and Tasmania (up 8 per cent).
 
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There's been a fairly sharp drop in short-term arrivals from Hong Kong as the unrest and demonstrations continued. 
 
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There's less tourism from Hong Kong, but plenty of capital is winding its way back to Australia.

PETE WARGENT is the co-founder of AllenWargent property buyers (London, Sydney) and a best-selling author and blogger.

Pete Wargent

Pete Wargent

Pete Wargent is the co-founder of BuyersBuyers.com.au, offering affordable homebuying assistance to all Australians, and a best-selling author and blogger.

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