GDP and Economic Growth in Australian Tourism Industry

GDP and the Economic Growth in the Australian tourism industry
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Contents
Introduction....................................................................................................................................3
GDP and the Economic Growth in the Australian tourism industry.......................................4
Unemployment Rate of Australia for the last 5 years................................................................7
Fiscal Policy of Current Australian Government.......................................................................9
NBN policy of Australia..............................................................................................................11
The Plans of National Broadband Network..........................................................................12
Conclusion....................................................................................................................................13
References.....................................................................................................................................14
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Introduction
This report discovers the process of recovery of the tourism in the Australian. Australian is one
of the prominent industries in the sector of tourism. It breakdowns all record of an economy in
the travel destination various times. During the year of 2014-15, the tourism in Australian
granted the capital to the economic sector of the Australian about $107 billion. Its growth is
always blowing among all countries in every sector but especially in the tourism sector. As the
reported study that Australian has a great record in both tourism international as well as
domestic. They directly give their high amount to the national Gross Domestic Product (GDP)
about 2.7 percent. It's a very huge contribution to the industry of Australia. They earn a higher
growth in the form of economic, prominent and success with the help of tourism. The tourism
does not only grant to the Gross Domestic Product but also grant to the national exports and
other jobs in Australia regarding 8.2 percent and 4.6 percent respectively. On comparing, the
GDP of Tourism is higher the GDP of Agriculture. The zone of agriculture, fisheries, and
forestry are the small industries in Australia. After tourism, there are also several industries in
Australia that play the greatest role in the form economic such as Education, Training center,
restaurant, clubs and the water and transport resources and their contribution is in the following
way to the government of Australian:-
 In the view of Education and training center, it is about 7.8 percent to $2.7 billion.
 Regarding restaurants, it is about 5.7 percent to $ 4.4 billion.
 The water and transport resources grant about 3.5 percent to $ 5.8 billion.
 The government earns about 4.9 percent to $2.5 billion from the clubs, taverns,
and pubs.
This report also analysis that Australian is also considered as the traditional and blooming
country in the world.
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GDP and the Economic Growth in the Australian tourism industry
It is a well-known fact that the tourism industry contributes a lot to the growth and development
of the economy of the particular nation. Like that of, the tourism industry of Australia is a very
huge industry. And hence, it is understood that the classification of the industries is done on the
basis of the scale of production in the economy (Vanhove, 2017). The tourism industry is among
one of the unique segments of the economy in which the production is measured on the basis of
the consumption and the spending on the visitors and the tourists. The details of the industry
relating to the growth and the development can be seen and analyzed in the ABS (Australian
Bureau of the Statistics) which has shown its TSA (Tourism Satellite Account of Australia)
which though gives the complete details relating to the direct contribution of the industry in the
sector of travel and tourism industry. This means the consumption done by the tourists in the
economy is developing (Dizioli, et. al., 2017).
(Figure: 1)
(Source: Tourism GDP by Territory/State, 2012)
The contribution to the GDP of the nation is done through the direct as well as the indirect
methods in which if it is talked about the direction. The travel and the tourism industry in
Australia contribute to the GDP in the following ways:
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