Lower dollar gives tourism a boost

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By Leith van Onselen

The Australian Bureau of Statistics’ (ABS) overseas short-term arrivals and departures figures for June, released on Friday, revealed an ongoing improvement in Australia’s tourism position.

The number of short-term visitor arrivals rose by 0.1% in June in trend terms, whereas short-term resident departures fell by 0.1% over the month. The the ratio of annual arrivals to departures also rose to 77.2%, which was the highest level since July 2011 (see next chart).

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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.