How Much Of The Gold Coast’S Economy Is Derived From Tourism?

The Gold Coast’s tourism industry has seen significant growth in the last year, with new data showing that it now pumps about $4.7 billion into the economy. Australian tourists poured a record $6.1 billion into the Gold Coast economy in 2022, a massive jump on the previous year. Tourism is a significant driver of economic and social outcomes for the Gold Coast, delivering 41,000 direct and indirect jobs and supporting more than 3,000 tourism jobs.

The Gold Coast Tourism Sector Highlights 2024 provides an analysis of the tourism sector and its contribution to the Gold Coast’s economy. The report provides a comprehensive account of the direct and indirect contribution that tourism makes to the economy of the Gold Coast, produced by Tourism Research Australia. Tourism supports 42,000 jobs on the Gold Coast, and the original Gold Coast Tourism Board was modelled off the one used in Hawaii. China is now the biggest international market, with more than 1.4 million domestic overnight visitors.

In 2021-22, tourism contributed $1.63 billion directly in valued added, representing 4.9 of total industry value added to the Gold Coast economy. Before COVID-19 (2018-19), tourism contribution accounted for $1.75 billion direct value added, 5.7 of total Gold Coast value added.

In the twelve months to December, the Gold Coast generated $7.8 billion in total visitor expenditure and welcomed 12.2 million total visitors. In 2019, the Gold Coast tourism industry contributed $5.9 billion into the local economy, welcoming 14.2 million guests annually. International visitors to Gold Coast City were more likely to be visiting on holiday, accounting for 67.6 of all visitors.

Tourism contributes over $1.2 billion to the Gold Coast’s gross regional product in 1996/7, with $134 million (11.1 percent) originated from tourism. Small to medium enterprises employ many, with health and tourism being key workforce drivers. Tourism is a significant driver of economic and social outcomes for the Gold Coast and the market’s view that a General Tourism Town (GTH) in the region can be successful.

How much does tourism contribute to global emissions?

A recent study estimates that travel and tourism contribute to approximately 8% of global carbon emissions, despite the existence of various estimates.

How much does tourism contribute to the Australian economy?

Tourism’s GDP increased by 60. 1 to $57. 1b in 2022-23, but it remains below the 2018-19 peak of $63. 4b. Its direct contribution to the economy, including GDP, value added, employment, and consumption by product and industry, rose to 2. 5 in 2022-23 but remains below the 2018-19 level of 3. 1. Domestic tourism consumption increased by $34. 9b to $124. 9b, while international tourism increased by $17. 7b to $23. 6b in chain volume terms.

Tourism filled jobs rose to 626, 400 in 2022-23 but remains below the 2018-19 peak of 700, 900 filled jobs. Direct tourism impacts occur when there is a direct physical and economic relationship between the visitor and producer of a good or service.

How does tourism contribute to the local economy?

Tourism is a significant source of revenue for a destination, as travelers engage in a range of expenditures, including accommodation, food, transportation, souvenirs, and activities. These expenditures create employment opportunities and support local businesses, contribute to infrastructure development, and drive overall economic growth.

Which country makes the most money from tourism?

In 2023, the United States ranked highest in international tourism receipts, with inbound tourism receipts reaching nearly 176 billion U. S. dollars. This figure is a sharp increase from 2019, despite a decrease from the previous year before the COVID-19 pandemic. Spain and the United Kingdom followed with 92 billion and 74 billion U. S. dollars respectively. France topped the list of countries with the highest number of inbound tourist arrivals, with 100 million arrivals in 2023.

Spain and the United States followed with over 85 million and 66 million arrivals, respectively. The total contribution of travel and tourism to GDP worldwide was estimated to be just under 10 trillion U. S. dollars in 2023, with over 300 million travel and tourism jobs worldwide.

How tourism contributes to the economy essay?

Tourism and economic development are interconnected, with tourism generating revenue and foreign exchange, creating business opportunities, and improving infrastructure and quality of goods. Indirect effects include better taxation, employment, and infrastructure. However, tourism can also undermine economic development by creating environmental problems, higher infrastructure taxation, and income inequality.

Economic development can lead to success in tourism by promoting better quality goods, improving foreign exchange rates, and promoting business sustainability. Both factors are crucial for a tourist-dependent country’s survival.

How does Australia benefit from tourism?

Tourism Research Australia is a strategic research and analysis program that focuses on the structure and performance of the Australian tourism industry. The program uses surveys and supply and demand intelligence to support policy making, marketing, and industry development. The reports cover issues such as tourism’s value to the Australian economy, industry performance, market dynamics, and emerging trends. Additionally, the annual State of the Industry report analyzes the industry’s current performance, challenges, and how to respond.

Why is tourism so important in Australia?

Australia, a high-value market with world-class cultural and natural attractions, is experiencing a recovery in international tourism following the pandemic. Tourism Research Australia predicts that international visitor expenditure will exceed pre-pandemic levels in 2024 and increase to A$50. 7 billion by 2028. Australia’s long-term national strategy, THRIVE 2030, aims to return to pre-pandemic visitor expenditure of A$166 billion by 2023 and sustainably grow to A$230 billion by 2030.

The country’s political stability and resilient economy provide a safe and low-risk business environment for businesses and investors. The Australian Government has announced a $48 million tourism and travel package in the October 2022 Budget to support further recovery.

What country contributes the largest amount to the tourism industry?

The United States and China are the leading global travel markets, with France being the destination with the highest number of inbound tourists, both before and after the pandemic. Paris, home to the Louvre, is also home to the most visited museum in the world. The digitalization of the global tourism industry has led to a global online travel market worth nearly 600 billion U. S. dollars in 2023, with a forecast to exceed 800 billion U. S. dollars by 2028.

Leading travel companies in this market include Booking Holdings Inc. and Expedia, which use fare aggregators and metasearch engines to help consumers find travel-related products and services. Airbnb, an online marketplace for short-and long-term homestays, has taken the accommodation world by storm since its founding over 15 years ago. The United Nations report highlights the significant contribution of tourism to climate change, leading to a growing belief in sustainable tourism and green choices. Despite this concern, the tourism industry has rebounded since the pandemic, with annual growth in spending.

Who is the largest contributor to global emissions?

Since the advent of the Industrial Revolution, there has been a notable increase in carbon dioxide emissions, predominantly resulting from the combustion of fossil fuels. The three countries with the highest levels of emissions are China, the United States, and the European Union. When emissions per capita are considered, the United States and Russia have the highest rates. The majority of global greenhouse gas emissions are attributable to a relatively limited number of countries.

How can tourism benefit a local area?

Tourism offers numerous economic, social, and environmental benefits to local communities. Economic stimulation, job creation, and infrastructure development are some of the key benefits. Social and cultural benefits include improved quality of life and social cohesion. Environmental benefits include conservation and sustainable tourism promotion. Collaboration with local governments can help overcome challenges and generate revenue. Some strategies for maximizing tourism benefits in a local community include:

Which country has the highest GDP from tourism?

In 2023, the United States surpassed pre-pandemic levels in terms of travel and tourism contribution to GDP, with a total of 2. 36 trillion U. S. dollars. China and Germany followed closely, with travel and tourism contributing around 1. 3 trillion and 488 billion U. S. dollars, respectively. The total contribution of travel and tourism to global GDP reached just under 10 trillion U. S. dollars in 2023. GDP, the total value of goods and services produced in a country in a year, is a crucial indicator of a country’s economic strength.