No Josh, domestic tourism isn’t booming

Advertisement

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:

The full text of this article is available to MacroBusiness subscribers

$1 for your first month, then:
Cancel at any time through our billing provider, Stripe
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.