Aussie Outbound Growth Plateaus, Worst Trend Line Since GFC

I love a good chart and this one tickled my fancy.  It shows international travel by Australians is flat-lining in much the same way it did during the Global Financial Crisis 10 years ago.

This data is for February, when outbound travel grew just 1.1% according to the Australian Bureau of Statistics.

The March figures continued the trend, crawling along at 1.7%, which as you can see has been apparent for last 12 months or so.

Of course things are very different now to the GFC, a period when the global travel industry collapsed as the world, including Australia, descended into recession.

This time, however, the global economic landscape is in good shape with the world’s biggest economies all doing well.

That is the case in Australia too but with one caveat – there has been very little wage growth at a time of surging power, health and petrol costs.

With that in mind, the graph above should come as no surprise, indicating that households may well be reassessing their spending priorities.

During February and March, Japan, Vietnam and India continued their recent hot run with Australian holidaymakers, no doubt lured by snow, culture, weather and family.

Not so hot were the US, New Zealand, Indonesia and Singapore, as has been the case for a couple of months.

Is a a weakening dollar and a certain familiarity hurting these destinations, I wonder?

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