Tourism Australia

               

Tourism plays an integral part in the Australian economy. It contributes 33 billion dollars and employs five hundred thousand workers. Overall tourism contributes 2.6% of Australia’s total GDP. Rachel Crowley emphasized the importance of promoting both foreign and domestic tourism. Opera came to Australia and filmed shows which will help promote tourism as well. Foreign tourists, in 2009, comprised 38% of total revenue while domestic tourists made up 62% of the total revenue for tourism. Over the past decade, Australia’s international competitiveness has not kept pace with global trends and this had translated into a decline in international market share. Most tourists come from the New Zealand, the UK, China, and the US. Tourists tend to go to see the Opera House, Harbor Bridge, the Great Barrier Reef, and some of Australia’s other natural wonders.

A stronger Aussie dollar means that it is more expensive for foreigners to come to Australia. This is because exchange rates will decrease the amount of Australian currency that people from other countries can buy with their own. It could also have adverse affects on other industries such as mining and higher education. Prospective foreign students will find it cheaper to study in the UK or elsewhere seeing that it would be much cheaper for them. As for mining, it could negatively affect exports because it will become more expensive for large importers to buy Australian coal. In theory, if prices got too high and exchange rates differed too much these large importers might search for alternative places to buy coal from.