An established and growing tourism brand
Sydney and NSW are firmly established as global tourist destinations and Tourism is one of the state’s most important industries.
In 2016/17, our tourism sector attracted more than $40.5 billion of spending. There are still plenty of opportunities for further growth, with the Sydney and Australia brand resonating strongly with holidaymakers around the world.
Quick facts: NSW tourism industry
Key features of the NSW tourism industry include:
- In 2016-17, tourism and connected industries employed 171,000 or 28.6% of Australia’s entire tourism workforce.
- In 2017, NSW welcomed an estimated 93.7 million domestic and international visitors, a 3.4% increase on 2016. This included 4.2 million overnight international visitors, up 7.4% from 2016. This accounted for 51.2% of national market share and contributed $10.4 billion to our state’s economy.
- Rural and regional NSW welcomed 832,000 international visitors between September 2016 and September 2017. They stayed a total of 15.3 million nights and contributed $1.1 billion to the economy.
- In 2017, Sydney’s revenue per available room was $198. This was 5.9% more than 2016 and $44 ahead of the next closest city, Melbourne. Sydney had an occupancy rate of 85.9% (1.1% higher than 2016) and an average daily rate (ADR) of $230.13.
- Another 3,000 hotel rooms should enter the Sydney market over the next three years.
Helping NSW’s tourism sector succeed
Both government and industry support the tourism sector in Sydney and NSW.
The NSW Department of Industry’s Visitor Economy Industry Action Plan includes targets to the year 2030 which aim to empower the NSW visitor economy and triple 2009 overnight visitor expenditure, by aiming to achieve:
- $45 billion by 2025
- $55 billion by 2030
Destination NSW is NSW Government’s lead tourist agency and actively looks for opportunities to help the state’s tourism sector grow. When you invest in NSW tourism, we’ll be there with you, helping promote our state to tourists around the world.
Current tourism investment opportunities
The allure of Sydney, as well as NSW’s pristine beaches, national parks, botanical gardens and wildlife parks, make our state a top destination for nature-based tourism. In fact, 83.7% of all international visitors are attracted by our natural setting, and this accounted for a cumulative total spend of $9.8 billion in 2017.
NSW is increasingly popular with tourists from the nearby Asia Pacific, given the rising middle class in this region and more affordable airfares. We expect Asia Pacific tourism to be a growth area.
Regional NSW is also set for further expansion, given its excellent tourism infrastructure, facilities and proximity to the natural environment. There’s potential for further investment in regional hotel accommodation, transport and tourism services.
Event-based tourism is on the rise here too. Destination NSW positions Sydney and NSW as world-leading tourism and event destinations, driving tourism and acquiring and developing major sporting and cultural events. Six Destination Networks in Regional NSW play a key role in growing local visitor economies and provide access to regional tourism funding programs.
Find your opportunity to invest in Australia’s premier tourism destination in regional NSW.
Find your opportunity to invest in the Tourism sector in Sydney and NSW contact the NSW Business Concierge today.
Case study: Pro-invest grows in Australasia through NSW
Since launching in New South Wales in 2010, boutique investment firm Pro-invest Group has opened four hotels and is building five more in Australasia.
Together, these hotels are projected to be worth more than $1 billion. The firm is bullish about the potential of Australasia’s hospitality real estate market and is raising up to $800 million in equity to build 14-15 more hotels in the region.
Read more about Pro-invest Group
Case study: Airbnb vastly grows its Australian business through Sydney
Home-sharing company Airbnb set up an office in Sydney to attract more Australian hosts and guests to its online platform. From having about 5,000 local listings in 2012, the company now has 148,000 and hosted more than 5 million guests in Australia in 2017.
Airbnb’s presence in Sydney has played a key role in achieving this success. The company has benefited from the New South Wales Government’s effort to create a conducive environment for the home-sharing business as well as its holistic approach to innovation.
Read about Airbnb