Market Analysis of Waterfront Retreat at Wattle Point in the Australian Tourism Industry

Business Environment 1
Business Environment

Business Environment 2
Introduction
Market analysis is considered as the study of the vitality of the market, which means, it evaluates
the attractiveness in particular market in the particular industry. In other words, evaluation of
market is deemed as the business plan which mainly presents the information in terms of the
important factors about the market in which business organizations are conducting their
activities. (Market analysis deals with different types of the factors, and it is conducted in context
of preparing the business plan for the organization. It can be said that, all these factors are
important to consider while running the business of the organization and deciding the future
actions (Business plan, no date).
The most important and common factors in this context are SWOT which stands for strength,
weakness, opportunities, and threats. By evaluating the strength and weakness of the
organization, management can decide the future strategies.
This paper mainly focuses on the market evaluation of the Waterfront Retreat at Wattle Point, as
this is the organization which conducts its business in the hospitality industry and directly
affected by the tourism industry of Australia. Structure of this paper includes the SWOT analysis
of the Australian tourism industry in context of the selected organization, external analysis of the
business environment which includes macroeconomic and microeconomic factors, and target
market. Lastly, brief conclusion is stated for concluding the paper.
About the organization
Waterfront Retreat at Wattle Point is the resort which conducts its business in Australia, as it is
situated at Wattle Point, Victoria. This property is situated in the 20 acres of natural bush, right
on the edge of Lake Victoria. Management rights of this organization are purchased by mark and
Sharon in September 2013 and it is assisted by the Debbie. The resort provides the best view
and feeling to its guests. The facilities given by this organization are maintained and upgraded on
constant basis.
Lodges in this resort are mainly owned by the people on individual basis, and the management of
this organization ensures that staff takes care of the lodges in well manner.

Business Environment 3
SWOT analysis
Infrastructure of Australian tourism industry is robust in nature, as it put the data and numbers
behind the tourism economy of the country. Tourism research Australia is the part of the
government and this mainly indulged in the offering of the tourism intelligence to different
national and state bodies. Recently, they introduced Tourism Forecasts – Spring 2013 and this
provides the forecasts for 10 years in context of Australia inbound, domestic, and outbound
tourism sectors.
As stated by this report, it is forecasted that arrival of the international visitors will enhance by
5.8% to 6.6 million between the year 2013-14 and 5.6% to 7.0 million in 2014-15. This growth is
driven by the China, the United Kingdom, New Zealand, and the United States. Inbound
expenditure is forecasted in context of growing on average 3.5% per annum and these figures
will reach $39 billion by the year 2022-23.
Following is the SWOT analysis of the Australian Tourism industry in terms of the selected
organization-
Strength- There is number of strengths of the tourism industry of Australia and all these
strengths work as the opportunity for the Waterfront Retreat at Wattle Point to attract the
customers. By using these strengths in their business Plan, this organization can attract more
number of customers in their resort and enhance the Profitability of their business. Some of these
strengths are stated below-
 Australia is the appealing and unique destination for its visitors, and provides number of
new experiences to its visitors.
 Australian dollar is weaker than expected, and this enhances the tourism in the country.
 Global economic recovery is in progress and this assist the country in the volume growth.
 Important investments in terms of the digital marketing and online booking systems has
been made in recent years, and this ultimately results in the healthy competition and kind
of support from the tourism market at domestic level. This also makes the things easier
for the tourists and they can easily make their bookings which ultimately gives rise to the
tourism in the country.