Lower Australian Dollar to have Positive Impact on Tourism
Thursday August 22nd, 2013
The falling Australian dollar should have a positive impact on local and international tourist levels, according to Deputy Prime Minister Anthony Albanese.
The Australian dollar has fallen to a three-year low of US$0.90 (the lowest value since December 2010). At the release of the annual State of the Cities report, Albanese argued that the high dollar in the past placed pressure on sectors such as manufacturing and tourism.
The report presented an economic analysis of the biggest 18 cities in Australia. It revealed that Australia had an extremely mobile population, with more than one million temporary visa holders at any time, not including New Zealand visitors or temporary residents.
Albanese suggested that the relative costs to holidaying in Australia by international and local tourists will be lower. Sandy Oatley, owner of Hamilton Island, agreed with this view and said that the lower dollar made Australia more attractive place to visit. However, former Queensland Tourism chairman Don Morris disagreed and said that travellers usually didn’t make their travel decisions on the basis of currency fluctuations.