The 2024 March Quarter Tourism Barometer shows an improvement in activity from the previous quarter, however the deterioration in the Business Outlook Index makes it is clear the tourism industry is still facing significant challenges including rising operating costs, labour shortages, high interest rates, poor consumer sentiment and a slow recovery in international visitation levels.
Business investment levels have fallen slightly, but remain positive, despite the uncertain economic outlook. More SA businesses are hiring new employees, which suggests chronic worker shortages may be easing. Visitor expenditure in South Australia continues to rebound strongly from the COVID-19 pandemic, at $10.1 billion in 2023, supported by the recovery in visitation and very strong growth in visitor yields.
