Australia’s tourism and hotel sectors won’t recover properly for years, according to new …

australias tourism and hotel sectors wont recover properly for years according to new analysis from deloitte

Sumary of Australia’s tourism and hotel sectors won’t recover properly for years, according to new analysis from Deloitte:

  • International travel will not return properly until 2023, according to new analysis from Deloitte on Friday, leaving parts of the Australian economy exposed..
  • With no international visitors and far fewer business travellers, hotels in cities like Sydney, Hobart, and the Gold Coast are expected to take more than three years to recover fully..
  • “In the short to medium term therefore, hotels in the major cities will need to look at ways to encourage a greater volume of domestic holidaymakers to fill the gap from business travellers,”.
  • With international tourism expected to be off for several more years, the struggles of hoteliers and tourism operators are just beginning, according to a new report from Deloitte economics team..
  • Deloitte national tourism leader Adele Labine-Romain said, noting that “international travel is not expected to recover to near pre-COVID levels until sometime in 2023”..
  • With international borders remaining firmly shut, notwithstanding a New Zealand travel bubble, the onus will fall on domestic tourists to do the heavy lifting..
  • “Should the pandemic remain largely in control – at least from an Australian perspective – domestic overnight trips are forecast to grow to 113 million by the end of 2021, just under 2019 levels, and to 134 million trips by 2023, a 14% increase on 2019,”.
  • While those figures are encouraging, there are still doubts however over whether a domestic travel boom can truly compensate for the international shortfall..
  • While holiday-starved Australians may be willing to splash some extra savings this year, they also tend to not spend in the same way, generally forgoing expensive tourism activities and tours..
  • Hotels will need to compete for Australian visitors Given 5,000 new hotels rooms opened in 2020, and with another 32,000 coming in the next two years, it may be the accomodation sector that struggles the most…

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