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Qantas generates billions for A...

Qantas generates billions for Australian tourism industry

Qantas has generated almost $21 billion for Australia's economy according to the Deloitte Access Economics report.

The report also stated that this included $9.5 billion in tourist expenditure in the 2014-2015 season.

Overall it has been recorded that one in every $9 spent in Australia was by a Qantas passenger. This tourist spend also helped support one in nine jobs in the country's tourism industry.

The breakdown of this shows that the travel company helped to generate $2.675 billion in Victoria's local economy.

However, the area that benefitted most was New South Wales (NSW), as Qantas operations supported 24,822 jobs in this state and contributed $4.2 billion into the state's economy.

The Northern Territory received the most monetary gain per person, with Qantas activities coming in at $616, while NSW showed $535 per capita and Queensland came in at $519 per person.

This boosted economy from Qantas comes despite the company having cut ties with Tourism Australia in 2012.

Although the partnership ended, Qantas still have $71 million worth of deals with State Tourism Organisations.

Federal Tourism Minister Richard Colbeck has said that "conversations have already started" for Qantas and Tourism Australia to revisit their previous attachment.

Senator Colbeck is hopeful that this will go ahead, saying: "The whole industry would benefit from a good relationship between Qantas and Tourism Australia, whose role is to be the best tourism destination marketing agency on the planet."

Talks to restart business relations between Qantas and Tourism Australia are also set to instigate a "fightback" for ownership of Virgin Australia, according to aviation expert Neil Hansford.

He continued on to say that Qantas, with its monetary interest in Australia is reminding the country's government that their profits should go to the benefit of their own country and industry.

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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