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International visitor spending...

International visitor spending has doubled in Australia

So far this year, international tourism has continued to contribute massively to the economy of Australia, particularly over the past few months.

In all, there has been record growth in this area, as visitors from around the globe have spent $38 billion (£19 billion) throughout the recent 12 months up to and including the end of March, according to the latest International Visitor Survey conducted by Tourism Research Australia.

In terms of improved figures, this is a 17 per cent or $5.4 billion spike over the previous period, regarding the most recent paperwork.

John O'Sullivan, Tourism Australia managing director, said that this data has also shown positive results across most of the country's key inbound markets.

He commented: "With another strong quarterly performance, international spending has now risen an impressive 17 per cent over the past 12 months to a record high of $38 billion.

"The quarterly figures are particularly pleasing when you consider the same period last year was boosted by Australia's successful hosting of the Cricket World Cup."

Mr O'Sullivan added that these annual numbers translate to around $5,000 towards the economy for every visitor who is attracted to Australia.

In general, international spending is growing at more than twice the rate than visitor arrivals and the economic benefits are seen through a high yield tourism strategy.

According to Mr O'Sullivan, the majority of the international spending has come from Japanese tourists, as the country's fortunes have seen a large upturn over the past year.

Similarly, the Japanese market has responded positively to recent aviation capacity increases and strategy activities that have been created as a response and to assist this.

The survey looked at 40,000 people over the age of 15 who made short-term journeys into Australia and it was conducted by Computer Assisted Personal Interviewing.

Eight major airports in the country were tracked for their visitor arrivals, comprising Sydney, Melbourne, Brisbane, Cairns, Perth,  Adelaide, Darwin and the Gold Coast.

All information provided is of a general nature only and does not take into account your personal financial circumstances or objectives. Before making a decision on the basis of this material, you need to consider, with or without the assistance of a financial adviser, whether the material is appropriate in light of your individual needs and circumstances. This information does not constitute a recommendation to invest in or take out any of the products or services provided by SMATS Services (Australia) Pty Ltd or Australasian Taxation Services Pty Ltd.

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