Export tourism industry facing “deep and protracted downturn”

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Yesterday’s overseas arrivals and departures data from the ABS reported a record 99% monthly decline in overseas arrivals, with only 2,250 people arriving into Australia in April:

This has prompted Australian Tourism Export Council MD, Peter Shelley, to warn that Australia’s export tourism industry is facing a “deep and protracted downturn” from COVID-19:

“This is the beginning of what will be a deep and protracted downturn for our export tourism industry and there is absolutely no end in sight,” Australian Tourism Export Council Managing Director Peter Shelley said of the figures.

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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.