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Hey Big Spenders, where the hell are you?
Spending by international holiday visitors to Australia has fallen almost 15 percent in two years, which equates to an inflation-adjusted drop of 20 percent, according to analysis of the latest International Visitor Survey data by the Tourism & Transport Forum (TTF).
The International Visitor Survey for the year ending March 2011 shows overall visitor numbers to Australia up 3.5 percent and spending up 4.0 percent on the previous year.
However, these figures mask longer-term concerns over spending by holiday and education visitors, said TTF.
“Spending by holiday visitors to Australia for the year ending March 2011 is 14.7 per cent lower than the corresponding period two years earlier,†said TTF chief, John Lee.
“Adjusted for an annual inflation rate of 3.0 percent for the two years, real spending by holiday visitors is down 20 percent.
“The strength of the dollar is having an impact, but we are also fighting unfavourable conditions in four of our top five source markets.
“NZ and Japan have had natural disasters to contend with, while the UK and US are still struggling economically,†Lee added.
International visitor arrivals to the Gold Coast fell by six percent in March 2011 according to figures released by Tourism Research Australia.
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