If there’s one industry to put your money in the resilient Australian economy, it has got to be tourism. Mirroring the country’s growing number of tourist arrivals, it contributed a whopping $35B to GDP—the Land Down Under’s largest services export.
On top of its regular visitors from New Zealand, the United States and many European countries, any commercial property group in Australia like sentinelpg.com.au would note that the land’s proximity to burgeoning Asian nations makes it a premier location for profitable tourism investments. Experts expect more than half of the projected international visitors over the next 10 years to come from China, India and other thriving economies.
If you are still half-hearted about building your wealth in the hospitality industry, here are sensible reasons the risk you will run on your investment is relatively low in Australian tourism:
Strong Local Market
Even if the number of international tourist arrivals does not significantly grow, this is a country of holidaymakers; the domestic market alone can keep your business hale and hearty. Australians love to experience their own country, exploring the great outback and tanning in pristine beaches. The spending of the locals account for about 62% of the country’s total tourism consumption.
Layered Form of Investment
A tourism property is never limited to a single stream of revenue. More and more travellers, domestic and international alike, are becoming more dynamic; some only need accommodation, others want to play, dine and be entertained. There is a money-making opportunity in every tourist demand.
Solid Government Support
Thanks to Tourism 2020, you would to get high priority from the authorities whatever city or state. To maximise the potential of the hospitality industry, the government is committed to collaborating with investors to make your investment beneficial for everyone.
Australia is one of the highly sought-after destinations on the planet. As the stars continue to align perfectly, there is no better time to invest in tourism than now.