HomeSydney Tours and Day TripsAustralian tourism benefits from falling dollar
{tag_name_nolink}

Australian tourism benefits from falling dollar

The tourism industry is in line to profit from an even lower Australian dollar as overseas tourists and travellers get more dollars for their pounds, euros and yuan.

‚ÄčThe tourism industry is in line to profit from an even lower Australian dollar as overseas tourists and travellers get more dollars for their pounds, euros and yuan.

THE Australian dollar has fallen to a new four-and-a-half-year low, weighed down by falling commodity prices. It has been trading at or about US82.10 cents today, down from US82.72c on Friday and down from +/-US90.00 only 3 months ago.

This drop (caused by lower commodity prices) likely provides a welcome boost to many parts of the services sector: including cafes, bars, restaurants and tourist attractions.

Tourism Australia managing director John O'Sullivan said previously a weaker exchange rate would encourage foreign tourists to spend more in Australia. "We're trying to get the industry to $115 billion in overnight expenditure by 2020. We're currently at $83 billion."

Education providers could also see an increase in demand from international students. "The international education industry strongly welcomes the Australian dollar's decline," said national executive director Phil Honeywood. He added "We are now facing stiff competition from countries such as Canada, the United States and New Zealand, which are more actively competing against Australia for international students than ever before."

An improvement in both these services sectors could help the Australian economy transition towards non-mining led growth.

Written by Chris Harrison, Features Editor

Flamin' Galah Sydney Tours and Airport Transfers are feeling very positive about 2015 and we may be seeing the ingredients for the perfect storm, (in a good way).  An influx of visitors to Sydney will no doubt lead to increased patronage on our private charters and customised tours as well as the Home and Away tour to Palm Beach, Summer Bay.  Aspects such as exchange rates make a huge difference and give visitors much more confidence to spend money.  We hope to see increase in numbers for our Blue Mountains, Hunter Valley tours and City sights tours.

More News

{module_webapps,18225,a,,,,true,10,true,1,date}
comments powered by Disqus