The Minister for Tourism, the Hon Martin Ferguson MP has welcomed the latest data from the Australian Bureau of Statistics revealing growth in Australian tourism GDP by 7.8 per cent to now be worth $38.9 billion.
"The Tourism Satellite Account shows that in every major measure the Australian tourism industry grew impressively in 2006-07, setting many new records in the process," Minister Ferguson said.
"The rise in direct employment is of significant note."
Employment in the tourism industry rose to a record 482,800 persons last year, up 1.1 per cent.
"This makes a huge difference in rural and regional Australia, and shows how important the sector is to the Australian economy where tourism is a key economic driver of other industries such as cafes and restaurants, accommodation, retail and transportation."
Tourism growth was driven by strong domestic tourism consumption (up 6.8 per cent to $63 billion) as well as by very strong international consumption (up 9.8 per cent to $22 billion).
Tourism represented 10.4 per cent of Australian exports, helping Australia record a tourism trade surplus of $327 million.
"Tourism is again showing how important it is to the Australian economy both for employment and international trade; however, I believe we can do better, and I will be working closely with industry, and the States and Territories over the coming years to ensure the tourism sector's best days are still to come," Minister Ferguson said.
Media contact: Zoe Davies (Canberra) 0437 733 318
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Summary highlights: Australian National Accounts: Tourism Satellite Account, 2006-07 (ABS 5249.0)
In 2006-07 (in nominal terms):
· Tourism Gross Domestic Product (GDP) increased by 7.8 per cent to $38.9 bn.
· As a proportion of GDP, tourism remained unchanged from last year at 3.7 per cent.
· Tourism Gross Value Added (GVA) was worth $32.3 bn, an increase of 7.9 per cent.
· Tourism GVA represents 33.4 per cent of the accommodation, café's and restaurants sector,
15.7 per cent of the transport and storage sector, and 10.8 per cent of the retail trade sector.
· Direct employment in the tourism industry rose 1.1 per cent to a record 482,800 persons.
· Tourism employment represents 4.7 per cent of total employment in Australia.
· Tourism-related consumption was $85 bn, an increase of 7.6 per cent on 2005-06 estimates.
· Australian's travelling domestically consumed $62.6 bn worth of tourism goods and services, an increase of 6.8 per cent on the previous financial year.
· Tourism exports (or international visitor consumption) increased by 9.8 per cent to $22,350 million,
or 10.4 per cent of total Australian exports.
· Tourism imports (or consumption overseas by Australian's) increased by 7.0 per cent to $22,023 million, reflecting similar growth in outbound travel volumes.