Petrol prices damaging tourism
Higher petrol and wage costs have been blamed for a drop in the profitability of Victoria’s tourism operators in the three months to August.
A Victorian Tourism Industry Council (VTIC) survey found rising fuel costs were listed as the most common perceived constraint to business growth over the period.
While businesses reported slightly better general business conditions, sales and selling prices than the previous quarter, profitability dipped as they faced higher wages and fuel costs, VTIC chairman Jeremy Johnson said.
Rising fuel costs were rated as a significant or critical constraint by 57 per cent of respondents, up from 50 per cent in the previous quarterly survey and 45 per cent in the February quarterly survey.
Petrol prices had a particularly strong impact in rural tourism operators, with 69 per cent of those respondents rating it as a significant or critical constraint on business performance, compared with 54 per cent of those in regional centres and 41 per cent in metropolitan areas.
Mr Johnson said the industry was expecting general business conditions to improve in the quarter to November, but wage costs were also expected to continue rising over this period.
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