Business View Oceania - June 2024

AUSTRALIA’S TOURISM INDUSTRYON TRACK TO BREAKRECORDS Source- https://www.travelpulse.com/ Mia Taylor, First Published June 24th, 2024 Australia’s travel and tourism industry is on track to contribute more to the country’s economy in 2024 than any other previous year on record. The industry is expected to generate a total of $265 billion for the Australian economy this year, according to a new Economic Impact Research (EIR) report from the World Travel & Tourism Council (WTTC). Australia’s travel industry fully rebounded back to pre-pandemic tourism levels in 2023 and is expected to continue robust growth over the coming decade, ultimately exceeding $345 billion by 2034. TRAVEL INDUSTRY-RELATED JOB GROWTH In addition to record contributions to the country’s economy, Australia’s travel and tourism sector is generating a steady slew of jobs. In 2023, travel jobs surged by nearly 10 percent from the previous year, hitting 1.42 million, a figure that O p e n i n g L i n e s 5 BUSINESS VIEW OCEANIA VOLUME 06, ISSUE 06