BMI View: Australia is home to a diverse tourism industry, which is set to benefit from positive growth astransport connections improve and awareness of the country's many attractions rises. The government ishighly supportive of the tourism industry and the country is successfully marketing itself to key sourcemarkets such as China and India, in order to boost visitor numbers. The expected rise in visitor numbers aswell as a stable and open investment environment means Australia is attracting significant interest fromleading regional and global hotel groups and with a number of new properties under development Australialooks well placed to support future growth.
Key Updates And Forecasts
While major marketing campaigns are run on a national basis, individual states are also investing intourism development. In August 2017 the Western Australian Government reported plans to invest someAUD2mn from the Tourism Western Australia budget for a campaign to increase the number of visitorsin Perth after an increase in hotel stock has left occupancy rates low.