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Data from the Treasury shows that the coronavirus-induced restrictions on international travel have boosted the Australian economy.
According to the Treasury, domestic tourism grew the economy by $7.5 billion over the December quarter, the equivalent of around 1.5% of GDP, as Australians holidayed at home and spent their money locally.
This led to an upbeat assessment from Treasurer Josh Frydenberg:
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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.