Australia has a highly developed, flexible tourism and hospitality industry which is one of Australia's largest services export.
Key to Australia’s attractiveness as a tourist destination is its natural environment, which is esteemed as one of the most unique and accessible worldwide. Australia has more World Heritage Natural Sites than any other nation, including the Great Barrier Reef and the Tasmanian Wilderness World Heritage AreaAccording to the World Economic Forum, Australia is ranked 74th globally on the travel and tourism competitiveness index.
As the middle class expands in Asia, demand for global travel from this region will increase. Australia’s geographic location in the Asia-Pacific and its attractiveness to tourists worldwide combine to make it the ideal destination for middle-class Asia. The market potential for the Australian tourism industry is growing rapidly on the back of increasing Asian prosperity, and Australia’s popularity among Asian tourists is already rising.
The policy environment in Australia is geared toward building the tourism industry by pursuing further growth and fostering demand. An example is the Tourism 2020 initiative, a joint industry-government initiative intended to increase Australia’s overnight visitor expenditure from around $70 billion per annum in 2010 to between $115 billion and $150 billion per annum by the end of the decade.
The Australian tourism industry will grow further as demand increases for world-class restaurants, bars and cafes, high-quality accommodation, luxury resorts, theme parks, casinos, nature retreats, travel agents, advanced transportation system, and retail providers in the Asia-Pacific.