International tourism goes up in smoke

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Via The Australian comes some bad news:

The Morrison government has announced a $76 million tourism recovery package aimed at halting an alarming decline in international bookings in the wake of Australia’s bushfire crisis.

Minister for Trade, Tourism and Investment Simon Birmingham said with bookings from key international markets down by as much as 30 to 40 per cent, the package was vital to protecting jobs, small businesses and local economies.

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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.