Deloitte: No tourism recovery until 2023

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Deloitte does not expect domestic travel volumes to return to 2019 levels until 2023, signaling more pain for Australia’s tourism industry:

With the borders shut to international travellers, and this likely to be the case until at least the middle of next year, international tourism has essentially ceased. Data released by the ABS has shown year-on-year declines of more than 99%. And it is the same picture for outbound, with overseas travel by Australians also coming to a halt.

As a result, the tourism sector is redirecting efforts to encourage Australians to travel locally.

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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.