Charts of the Week

Like much the rest of the non-mining, non-financial economy, Australian tourism has been through tough times in recent years. The increase in the Australian dollar has a negative effect on tourism. The RBA recently published a paper on the tourism industry.

Conditions in the tourism industry mirror many of the broader economic trends observed in the rest of the economy because tourism expenditure is discretionary and, like all trade-oriented industries, the tourism industry is exposed to developments in overseas markets and movements in the exchange rate. Over recent years, the Australian tourism industry has experienced challenging conditions. However, the fundamental conditions facing the industry have become more favourable, supported by improved economic conditions in key North Atlantic markets and the depreciation of the Australian dollar, as well as continued strong growth in tourism exports to China. 

The increase in Chinese tourists, like most other aspects of Chinese demand in recent years, is remarkable.

According to this graph China still has a low level of overseas departures/capita.

Tourism now Australia's third biggest export. But look at those figures for iron ore and coal - 35 per cent of exports!

Declining energy use per capita for G7 countries

There is no debt crisis in Australia and to argue that there is/was a 'budget emergency' is imbecilic.

State and territory shares of Australian GDP

The effectiveness of vaccinations