Wham, bam! Aussie tourism takes another hit
The Australian Tourism Export Council has weighed into the debate over rising interest rates in the country.
ATEC managing director, Matt Hingerty, said the Australian retail banks were rubbing salt into the wounds of tourism operators across the country by raising interest rates higher than the new rate announced this week by the Reserve Bank of Australia.
Hingerty said while the high Aussie dollar is not a mortal blow for the industry, the combination of a high dollar and high interest rates is one of the industry’s greatest fears.
“The interest rates rise has created a toxic brew for the Australian tourism industry,†he said.
“Inbound tourism operators are now faced with a cut in margins due to the strength of the Australian dollar and now the higher interest rate is an added burden for small operators who are already struggling to keep their businesses afloat.
“Many small tourism operators barely survived the global financial crisis and were looking forward to solid trading conditions, but the double impact of a high dollar and high interest rates will make their recovery that much harder,†Hingerty said.
Ian Jarrett
Vegas’s Billion-Dollar Secrets – What They Don’t Want Tourists to Know
Visit Florida’s New CEO Bryan Griffin Shares His Vision for State Tourism with Graham
Chicago’s Tourism Renaissance: Graham Interviews Kristin Reynolds of Choose Chicago
Graham Talks with Cassandra McCauley of MMGY NextFactor About the Latest Industry Research
Destination International’s Andreas Weissenborn: Research, Advocacy, and Destination Impact
Graham and Don Welsh Discuss the Success of Destinations International’s Annual Conference
Graham and CEO Andre Kiwitz on Ventura Travel’s UK Move and Recruitment for the Role
Brett Laiken and Graham Discuss Florida’s Tourism Momentum and Global Appeal
Graham and Elliot Ferguson on Positioning DC as a Cultural and Inclusive Global Destination
Graham Talks to Fraser Last About His England-to-Ireland Trek for Mental Health Awareness
Kathy Nelson Tells Graham About the Honour of Hosting the World Cup and Kansas City’s Future
Graham McKenzie on Sir Richie Richardson’s Dual Passion for Golf and His Homeland, Antigua
ADS PRO 
TAP Air Portugal to operate 29 flights due to strike on December 11
Qatar Airways offers flexible payment options for European travellers
Airlines suspend Madagascar services following unrest and army revolt
Air Mauritius reduces frequencies to Europe and Asia for the holiday season
Major rail disruptions around and in Berlin until early 2026