Why the NSW economy is booming, but Australia’s tourism industry is bust

Posted July 11, 2018 08:23:00 A new report says Australia’s booming tourism sector has generated $6 billion in revenue since it opened in the 1990s.

The report from the Australian National University says the number of Australians who visit holiday resorts and other tourism attractions every year is expected to grow by more than 2.8 per cent over the next three years.

It says the boom is driven by the growth of tourism and the growth in tourism revenue.

The ANU study shows that the number and number of people who go on holiday has tripled since 2000, with the number reaching almost three million by 2021.

Tourism is expected as the third biggest source of gross domestic product in 2021, ahead of mining and construction.

Tourism generates around $6.3 billion a year for the government, according to the study.

It is estimated that about $2.5 billion of that is spent on infrastructure, infrastructure capital and the construction of new resorts.

ANU chief economist Richard Truscott says the increase in tourists is due to two factors: the economic recovery and the number who visit.

“We’re seeing the return of people to Australia for longer periods, the people are staying longer and they’re spending more money,” he said.

“So we have a real economic rebound.”

We’re actually getting an economic boom, but there’s also a very significant and very significant downturn in the tourism industry.

“The number of holidaymakers is expected more than double in the next five years, from 2.7 million in 2020 to 6.4 million in 2021.

That would mean more than a million more Australians would be travelling overseas.

Tourism has become a big industry in NSW.

It accounts for a quarter of the state’s gross domestic products, accounting for around $1.4 billion.

Tourism contributes about 10 per cent of the Gross Domestic Product in the state.

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