A time for cautious optimism?
The March Quarter Tourism Barometer indicates a positive shift in business activity and outlook within the tourism sector, despite ongoing challenges such as rising business costs and a 12% decrease in day-trip visitation. Visitor expenditure has also declined, raising concerns about market share loss to other states.
Pleasingly, the Business Outlook Index has risen above neutral, reflecting growing optimism in the tourism industry after a prolonged negative trend. Compared to the October – December 2024 Barometer report, the January – March report states that nearly 63% of surveyed businesses remain ‘extremely confident’ or ‘confident’ in the outlook for their business over the next year.
The tourism industry continues to face challenges though, and the sentiment survey results reveal that key ongoing challenges include:
- rising operational costs
- increase in staff wages
- cash flow issues
For further insight into the 2025 January – March Quarter, read the full Tourism Barometer report below.