Australia’s tourism industry is now the best-run in the world, with the country’s tourism revenue surging by more than 30% in the last 12 months to reach $2.6 billion in 2016, according to the Australian Institute of Tourism.
The figures, which include direct tourism, air travel, boat services, and hotel and travel services, were released by the Australian Bureau of Statistics (ABS) as part of its quarterly Tourism Industry Survey.
Tourism Australia has also found that in the past 12 months, the number of tourists from Australia has increased by about 7.5% and that the number arriving in Australia has more than doubled.
The country’s overall economic growth has slowed significantly from 1.6% in 2016 to 0.9% in 2017, but the overall tourism sector has seen a rebound.
A study by the ABS and the University of Tasmania found that the overall tourist market in Australia was the largest in the country, accounting for more than half of total tourism spending.
In 2017, Australia’s total tourism industry earned $2 billion, up from $1.8 billion in 2018.
Australia’s Tourism Industry survey found that Australia is the only country in the Asia-Pacific region that generates more direct visitor spending than direct tourist spending.
Tourism in the region was estimated to generate $1 billion in direct tourism spending in 2019, up 7.3% on the previous year.
The Australian government has set targets for direct tourism growth over the next three years, but says it is also looking at a range of initiatives to boost the industry.
In December, the ABS reported that direct tourism is forecast to grow at a faster rate than tourism in any other region in the next five years.
However, a number of other sectors, such as travel services and accommodation and food services, are still struggling to make a profit.
Australian tourism industry boom: How do you know if Australia’s tourist industry is doing well?
The Australian Bureau on Friday released its latest annual report on the state of tourism, which showed that Australia’s economy is on track to grow by 6.6%, which would be the third fastest in the OECD.
However the report also noted that the country is experiencing a “tremendous and sustained rise in the number and value of visitors”.
The report also revealed that Australian tourism is the second largest source of foreign direct investment in Australia after China.
The latest survey also found the Australian economy is more diversified than most other OECD nations, with more than $20 billion invested in overseas tourism.
Australian tourists to other countries A total of 2.1 million Australian tourists travelled to countries outside of Australia in the first half of 2017.
The number of Australians visiting overseas countries jumped to 1.5 million in 2017 from 1 million in 2016.
Tourism to the United States and Europe grew by more a third to 2.3 million, while travel to China and Hong Kong grew by a fifth to 1 million.
According to the ABS, Australians have travelled to Europe, China and the United Kingdom more than twice as many times as any other OECD country.
In the same period, Australians visited Hong Kong more than five times as often as the UK, with visits to the UK accounting for a third of all overseas visits.
Australian visitors to Europe are also on track for an economic boom.
The survey found the number visiting the UK is set to double to 5.2 million in 2019 from 4.5 and 6 million in 2018, respectively.
However there is a long way to go before this will be achieved.