Holiday Rentals News - Australian tourism generates billions in revenue

Australian tourism generates billions in revenue

Tourism in Australia has experienced its strongest growth in nearly ten years and is now worth AUS $85 billion (£40 billion), new figures show.

Data released by the Australian Bureau of Statistics (ABS) shows that tourism related spending increased by 7.8 per cent in the 2006-2007 financial year, when compared to the previous 12 months.

Expenditure by overseas tourists rose by 9.8 per cent to $22.3 billion, the figures show.

Christopher Brown, managing director of the country's Tourism and Transport Forum, told the Sydney Morning Herald that the industry will need to innovate in order to continue its success story.

He said: "While today's figures are a shining light for the sector, we can't afford to rest on our laurels.

"In a weakened global economy, it's essential that Australian tourism maintains its competitiveness on the world stage as consumers consider their discretionary spend on items such as travel."

Last month, the ABS revealed that a record 5.6 million international visitors arrived in Australia in 2007.

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