Outlook continues to improve, but conditions remain subdued

The 2023 December Quarter Tourism Barometer shows an improved outlook from the September Quarter Barometer, however it is clear the tourism industry is still facing significant challenges including rising operating costs, labour shortages, high interest rates and a slow recovery in international visitation levels.

Despite the improved outlook, the current Barometer readings showed a deterioration in Business Activity, with the index remaining considerably below the neutral level.

However, there are positive indicators. Business investment levels remain elevated, despite the uncertain economic outlook.