International tourism: why growth is good but yield is gold

For a long time tourism operators have been buoyed by the industry’s impressive economic performance. At face value, results from Tourism Research Australia’s latest International Visitor Survey bring more of the same. Spend is up more than 5% over the year to A$44 billion. Overseas arrivals are at all-time highs. With each release of new data, however, substantial changes become apparent. The most obvious is this: that the healthy 5% boost in spend is happening off the back of very sluggish growth in visitor numbers.

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