Investment in Australian tourism infrastructure demonstrates strong growth in line with a brand new report from Tourism Research Australia (TRA).
The TRA 2013 Tourism Investment Monitor, released today, confirms the Australian tourism investment pipeline is estimated at $44.1 billion in 2012, up 22 per cent on 2011.
“We’ve seen continuing growth inside the tourism investment pipeline over the past one year, with a further $7.9 billion within the pipeline in 2012,” Dr Leo Jago, Chief Economist and General Manager of TRA, said.
“Investment in new aviation fleets by our leading airlines continues to dominate the expansion in tourism investment” confirmed Dr Jago.
“This investment though should be better balanced with adequate levels of investment in airports, in addition to accommodation and humanities and recreation infrastructure, to completely leverage increased aviation capacities in and around Australia,” Dr Jago cautioned.
On the back of continued strong international visitor arrivals and high accommodation occupancy rates, growth within the investment pipeline further confirms Australia is a horny environment to take a position in tourism infrastructure.
The TRA report draws on data sources from the Deloitte Access Economics Investment Monitor, property data from Jones Lang LaSalle Hotels, and the STR Global Asia Pacific Pipeline database.
Key findings from the report include:
* The tourism investment pipeline is estimated to were $44.1 billion in 2012, up by 22 per cent on 2011.
* The 2012 pipeline consisted of $5.6 billion in accommodation investment; $22.5 billion in new aircraft investment; $6.4 billion in airport infrastructure investment; and $9.6 billion in arts and recreation services investment.
* 25 hotel/resort major asset transfers were recorded in 2012 at a complete value of $1.4 billion – the top value for the reason that Global Financial Crisis.
* If the $5.6 billion invested within the accommodation pipeline is realised, this can provide a further 9,760 rooms to satisfy growing accommodation demand.
* Moreover, when taking new accommodation supply from mixed use developments under consideration, total supply of latest accommodation rooms could potentially provide around 12,250 rooms.