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

Bushfires will blast a $1 billion hole in tourism: Pete Wargent
Pete WargentJanuary 28, 2020

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). 
 
Click here to enlarge: 
 
 
Asian century

Tourism was still romping along until November, on the back of the Asian century.
 
Click here to enlarge: 
 
And short-term international education arrivals hit yet another record high at 619,100 over the year to November. 
 
Click here to enlarge: 
 
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).
 
Click here to enlarge: 
 
 
There's been a fairly sharp drop in short-term arrivals from Hong Kong as the unrest and demonstrations continued. 
 
Click here to enlarge: 
 
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 is the co-founder of BuyersBuyers.com.au, offering affordable homebuying assistance to all Australians, and a best-selling author and blogger.

Editor's Picks

Reddam House North Shore opening to lure families to North Sydney
Woolworths to sell another prime Brisbane development site with apartment approval
TOGA's vision for building vibrant new community precincts across Sydney
Latent Defects Insurance 101: How off the plan developers and buyers both benefit from Resilience Insurance LDI
The Regent Fitzroy: Where architecture and lifestyle combine