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Tourism to benefit from falling...

Tourism to benefit from falling dollar

Tourism is expected to pick up in Australia as the dollar falls.

The falling value of the Australian dollar could spell good business prospects for the country's tourism industry.

Property experts say that Queensland stands to benefit most, as home to the Gold Coast and the Sunshine Coast. They say that as tourists return to the area, its property market be spurred on, as it becomes easier to keep business moving.

The Australian dollar has been falling recently due to economic changes, such as the lowered benchmark rate at the Reserve Bank of Australia (RBA). It was recently announced that the RBA had decided to lower rates to a record low of 2.75 per cent.

A lower valued currency is good for overseas trade, which may have been hindered by the height of the dollar making goods and services from the country unaffordable.

Additionally, the lower value of the dollar could make it easier for migrants to buy into the Australian property market.

Posted by Ravin Chatlani

 

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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