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Value of Tourism to Northern NSW
Destination NSW and DNC have produced a 'Value of Tourism' document, drawing from different data sources to highlight the significance of our industry. Key findings from 2018 and 2019 include: Every minute, tourism delivered $9,787 of visitor spend to the North Coast. This is $14.1 million per day and $5.1 billion annually, a 12% increase on 2018. Tourism continues to deliver 9.5% of local jobs, supporting 7,394 businesses (+4.5% YOY) and employing just under 22,000 residents. Visitors stayed in North [...]
COVID-19 tourism recovery scenarios – How exposed are hotel markets?
The first half of 2020 has seen a decline of 43% in domestic overnight trips and 36% decline in domestic visitor nights across Australia. The COVID-19 tourism recovery scenarios – How exposed are hotel markets? report from Deloitte provides a framework to analyse hotel market risks and performance. Download the report here.
The Northern Rivers NSW Brand
An invitation to the world – to visit, to invest, to share Almost a year ago demographer Bernard Salt encouraged the communities of the Northern Rivers to pursue a big and outrageously ambitious agenda for the future of our region. A collaborative partnership of regional businesses, industry bodies and government representatives took up the challenge and this week the Northern Rivers NSW Brand has been unveiled at the Ballina BP Travel Centre, arguably a gateway to the region. “We all [...]
Letter from the President: April 2020
The market capitalisation declines induced by COVID-19 in the ‘Air & Travel’ and ‘Commercial Aerospace’ sectors have been profound. Source: McKinsey & Co. ‘COVID-19: Briefing materials. Global health and crisis response’ dated April 4th 2020 About one month ago, my personal ‘worst-case scenario’ outlook would have seen Australian hotel occupancies dropping by around 80% (to around 5-10% occ), for a period of about 3 months, with a slow recovery thereafter. This scenario would likely see 80% or [...]
Impact of COVID-19 on hotel performance
STR has created an up-to-date report detailing the impact of COVID-19 on hotel performance in the Pacific region. Download the report here.