Tourism industry sentiment in freefall
A sharp decline in sentiment among tourism operators has been identified by the latest TTF-MasterCard Tourism Industry Sentiment Survey.
The survey shows that sentiment has fallen to levels not seen since the global financial crisis, with the strong Aussie dollar by the far the number one business impediment facing tourism operators.
Australians are travelling overseas in record numbers while the buying power of international visitors has been reduced.
Eighty three percent of tourism executives identified the exchange rate among the top three business impediments facing Australia’s tourism sector, up from 61 percent in the last quarter.
TTF chief executive John Lee said, “While the dollar is a function of the relative strength of the Australian economy, if it remains high it will further exacerbate our tourism trade deficit, already more than $5 billion a year.”
And the dollar is not the only factor concerning tourism operators.
There has been a sharp rise in concern over the shortage of skilled labour, with 30 percent of executives ranking it in the top three business impediments, compared to just 13 percent in the previous quarter.
“Especially in regional areas, tourism operators are having trouble finding and retaining skilled staff as they cannot compete with the wages being offered by the mining sector,†Lee said.
The TTF chief welcomed the extension of the Pacific Seasonal Worker Pilot to allow tourism businesses in Broome to employ staff from East Timor, but wants the government to consider expanding the pilot to North Queensland and other regional areas, including the Northern Territory.
Ian Jarrett
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