Asia picks up traditional markets loss in Aus TTF

first_imgThe Tourism Forecasting Committee (TTF) is urging Australia’s tourism leaders to update product to match the needs of travellers from Asia.With the Committee forecasting 3.2 percent more Asia-based travellers arriving into Australia this year, the Group said the country could attract more visitors from the key market by ensuring we offer “the right type of product”.In a 2011 Forecast update, TTF explained growth from Asia will offset the 2.4 million expected loss in arrivals from non-Asian travellers and investing in new hotels and accommodation stock could see traditional markets pick up in the coming year.According to the Group, three of Australia’s top five markets will decline by the end of this year, with arrivals from Britain expected to fall by 5.7 percent, US by four percent and Japan predicted to drop 18.1 percent.Overall for the year tourism is expected to grow 0.4 percent, a 1.6 percent, a slide down for earlier forecasts to 3.1 percent growth.Contributed to the drop in forecast, is the fall in domestic travel, which domestic nights expected to decline by 0.3 percent this year while the strong Aussie dollar drives 9.2 percent more Australian holiday-makers overseas.“While  there  are  a  number  of  structural  and  economic  factors  behind  the  growing  deficit, today’s  data  also  highlights  the  need  to  update,  upgrade  and  upscale  our  tourism  product,” the report read.“Specifically,   TTF   has   recommended   innovative   tax   strategies   to   incentivise   new   hotel development and stimulate reinvestment in existing accommodation stock.” Source = e-Travel Blackboard: N.Jlast_img

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