Low $, more Chinese, a win for tourism: RBA

Low $, more Chinese, a win for tourism: RBA

Things are starting to look up for Australia’s tourism industry, thanks to the lower exchange rate and steady stream of Chinese travellers, the Reserve Bank says.

Conditions in the industry appear to have improved last year after several challenging years, when the high Australian dollar encouraged Australians to travel overseas instead of domestically.

Although the exchange rate remains high relative to history, its decline since 2013 saw the number of Australians travelling overseas fall in 2013/14, for the first time in at least eight years, the RBA said.

In its quarterly bulletin on Thursday, RBA analysts Corrine Dobson and Karen Hooper said the falling Australian dollar was lifting the spirits of tourism-related businesses.

Cheap petrol was another beacon of hope for the industry, encouraging Australians to do road trips at home, while slow wages growth, courtesy of the sluggish economy, could also see more people travelling domestically rather than embarking on more costly overseas trips, the analysts said.

“In short, the fundamental conditions for domestic leisure tourism appear more favourable than they have been for some time,” they said.

Meanwhile, the influx of Chinese tourists which bolstered the industry during its rough patch would continue to strengthen, as incomes and living standards in the world’s second largest economy continued to rise, the analysts said.

They said China had displaced the UK as Australia’s most valuable market for leisure travel exports, after generating $1.9 billion in 2013/14.

By 2022/23, China would displace New Zealand as Australia’s largest source of visitor arrivals.

Tourism is Australia’s third most valuable export after iron ore and coal, reaping $18 billion in 2013/14, the RBA said.

But the wind-down of the mining investment boom could continue to weigh on business travel in resource-exposed regions of Queensland, Western Australia and New South Wales, they said.

Latest News

  • Cruise

Silversea sets sail on its 2025 World Cruise

Experiential luxury and expedition travel brand, Silversea, has set sail on its 2025 World Cruise, Controtempo, taking guests to 59 destinations over 136 days. The cruise set sail from Tokyo on 13 January and arrives in New York on 29 May 2025. Guests will experience many of the most iconic cities and off-the-beaten-path gems in […]

  • Hotels

Dusit International announces two new hotels in the Philippines

Thailand hotel and property development company Dusit International has strengthened its presence in the Philippines with two new hotels in Mindanao, set to open in late 2029. The company, represented in the Philippines by Dusit Thani Philippines Inc., has signed hotel management agreements with IDC Prime. IDC Prime is a wholly owned subsidiary of Italpinas […]

  • Destinations
  • Hotels

Elite Havens adds luxury new villa to its portfolio

Elite Havens, a premier luxury villa rental and management provider, has added a new villa to its existing portfolio of over 250 villas now available for rent in Phuket, Thailand. The Surin Seaview Villa is a three-storey hillside retreat nestled on the hills of Phuket’s beautiful west coast and offers breathtaking views of the Andaman […]

  • Destinations
  • Events

Lunar New Year celebrations across Asia

As the Lunar New Year approaches, various destinations around Asia have announced the different celebrations they have lined up. Fire show, live band, instrumentalists, and bartenders flair show The Anam Group’s two beachfront resorts in Cam Ranh and Mui Ne will celebrate the most significant time in the Vietnamese calendar, Tet, with a broad spectrum […]

  • Conferences

The Australian Tourism Exchange heads to Brisbane Convention & Exhibition Centre from 27 April

The Australian Tourism Exchange (ATE) will be held at the Brisbane Convention & Exhibition Centre from 27 April to 1 May 2025. Tourism Australia requires all sellers attending the event to submit a front panel graphic with one image representing their business for marketing purposes at ATE25, while Destination NSW requires sellers to submit a […]

  • Appointments
  • News

New acting CEO of Destination NSW appointed

Karen Jones has commenced her role as Acting CEO of Destination NSW, taking the reins for an interim period of approximately six months. During this time, the Department of Creative Industries, Tourism, Hospitality and Sport will recruit for a permanent CEO. Jones brings over 27 years of leadership experience in state and local government. Most […]

  • Aviation
  • News

Qantas rejects claims about QFF availability

Persistence pays when attempting to claim Frequent Flyer Classic Reward seats on popular routes, Qantas says. Reports claims that there was no availability on popular routes such as Sydney-London and Paris in 2025 following last year’s introduction of Classic Plus. Steve Hui of iflyflat.com.au said in a media report that frequent flyers are unable to […]

  • Attractions
  • News

Inspirational Australians lead events across NSW as Australia Day Ambassadors

Innovators, educators, musicians, healthcare professionals, elite athletes and environmental advocates are among 80 inspirational Australians who will take part in events across NSW as Australia Day Ambassadors on 26 January 2025. These outstanding citizens and local heroes are handpicked each year by the Australia Day Council of NSW for their exceptional contributions to the community […]

  • Cruise

Royal Caribbean’s latest summer getaway deals with up to 60 per cent off

Royal Caribbean has announced its latest itineraries for short summer getaways aboard Quantum of the Seas and Ovation of the Seas with various savings. Prices for these cruises start from $659 per person for a balcony stateroom. Travellers can enjoy up to 60 per cent off second guests, with up to $850 in instant savings and kids’ sailings from […]