The rebound in Australian tourism has been one major bright spot for the Australian economy, helped along in no small part by the depreciation of the Australian dollar.
As noted earlier this morning, the ABS’ overseas short-term arrivals and departures figures for August, released yesterday, revealed an ongoing improvement in Australia’s tourism position, with the ratio of annual arrivals to departures rising to 77.5%, which was the highest level since July 2011 (see next chart).
