The economic contribution of the cruise sector to Australia | Deloitte Timor-Leste | Deloitte Access Economics, Tourism has been added to your bookmarks.
The economic contribution of the cruise sector to Australia
Exceeding growth estimates
This Deloitte Access Economics report found the cruise sector contributed almost $830 million in value added to the Australian and state economies in 2010-11.
In 2012, the Australian cruise sector had seen strong growth in the previous five years. This growth has taken place against a backdrop of stagnation in the wider tourism sector (as measured in total visitor nights). International tourism to Australia, while having grown in visitor nights, has been affected in recent times by the exchange rate through lower yields. Likewise, the domestic tourism sector has struggled as the exchange rate has made overseas travel relatively more affordable for Australian travellers.
Carnival Australia commissioned Deloitte Access Economics to undertake an economic contribution analysis of the Australian cruise industry to the Australian economy. This report includes a discussion of the main challenges and issues the cruise industry is likely to face in the future.
In 2010-11, the cruise sector contributed almost $830 million in value added to the Australian economy. As a result of increased activity in the sector, the 2010-11 contribution has increased from the 2007-08 economic contribution of $577 million (AUD 2011). This constitutes an increase of about 44% in three years to 2011, or an annualised growth rate of about 13%. This recent growth has exceeded the estimates of the previous report. In the 2009 report, total cruise sector activity was forecast to increase strongly at about 7% per annum over the following decade.