HI5003 - Economics for Business | Australia's Tourism Sector

Added on - Mar 2020

The below-given study highlights the reforms in Australia’s tourism sector. The tourism industry in Australia has developed over the last few decades. It also discusses why the commission takes interest in changing the tourism industry. Furthermore, the economic analysis and the recommendation to the policyholders are also illustrated in this paper.

Trusted by 2+ million users,
1000+ happy students everyday
Showing pages 1 to 3 of 8 pages
Running head: REFORMS IN AUSTRALIA’S TOURISM SECTORREFORMS IN AUSTRALIA’S TOURISM SECTORName of the StudentName of the UniversityAuthor’s note
1REFORMS IN AUSTRALIA’S TOURISM SECTORTable of ContentsIntroduction......................................................................................................................................3Reason behind the interest of Commission in the reforms in tourism sector..................................3Economic analysis on the tourism sector in Australia.....................................................................4Recommendation to the keyholders regarding this issue................................................................6Conclusion.......................................................................................................................................7References........................................................................................................................................8
2REFORMS IN AUSTRALIA’S TOURISM SECTORIntroductionThe study highlights on the reforms in the Australia’s tourism sector. The tourism industry inAustralia has developed over the last few decades. This industry has contributed to nearly 3.2%in the Australia’s GDP growth of the economy. In addition, the sector has offered as goodplatform for increasing the rate of employment of the nation (Amelung and Nicholls 2014). In2015-2016, tourism sector has given employment to 580200 persons and thus increased by 4.6%from last period. This study highlights on how this sector contributes to the GDP growth of theeconomy and improved their economic performance. It also discuses about why the commissiontakes interest in changing the tourism industry. Furthermore, the economic analysis and therecommendation to the policyholders is also illustrated in this paper.Reason behind the interest of Commission in the reforms in tourism sectorTourism sector has potentiality in attracting huge investment. Recent statistics revealed that thearrival of international visitors rose by 10% whereas domestic visitors increased by 9% in 2016.Thus, it generated export revenue by nearly $34 billion in 2015-2016 (Moyleet al.2013).Moreover, this sector has gained success in drawing investment from the private sector indestination advertising. The fragmented behavior of this sector and increase in visitors spendingcompel the government needs in playing funding role in the industry. In addition, reforms inAustralia’s policies of aviation and visa procedure have led to liberalization in the economy.Changing infrastructure investment by the federal government also benefits this industry.Moreover, advancement in digital platforms including Airnb enhances the experience of visitors.This is because this platform directly aids the visitors in short time booking of tickets.

It is concluded from the above report, that the Australian government adopts certain strategies to improve the growth of this industry. The strategies includes-tax restrictions, and developing tourism infrastructure. Austrade also plays a crucial role in tourism sector reform as it helps in assessing the government’s role and administering infrastructure programs.

Desklib Logo
You are reading a preview
Upload your documents to download or

Become a Desklib member to get access