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The latest data released by the state’s peak tourism body shows a renewed optimism for the future of the South Australian industry, with business outlook soaring by 80 points.
The latest quarterly sentiment survey, conducted by the Tourism Industry Council of South Australia (TiCSA) for the January to March 2022 period, shows that business outlook has surged to 130 points, a sharp increase from 50 points last quarter. In fact, increases have been reported across all areas of the Barometer, including activity levels and planned investment.
Business outlook had been on the decline since the January – March 2021 period, diminishing to a second-lowest record of 51 points in the December 2021 quarter. The opening of most state borders, and international borders on February 21 this year, plus strong booking numbers for many, contributed to the return to positive standing.
In addition, a majority of businesses are planning increased investment in the future, with investment now at its strongest point since the beginning of the COVID-19 pandemic.
Shaun de Bruyn, TiCSA’s Chief Executive Officer, said the data shows a promising future for the state’s tourism industry, after the strenuous past two years.
‘Business outlook has significantly increased, and we’re regaining that sense of optimism for the future, both short-term and long-term. It is relieving to see businesses begin planning for investment and development, with almost all restrictions now eased.’
‘We are looking forward to working with the new State Government and Minister Bettison over the next four years to implement our shared policy priorities and convert this positive outlook to robust activity and a strong tourism industry.’
Minister for Tourism, the Honourable Zoe Bettison MP, also was pleased with the positive outlook.
‘After an incredibly tough couple of years for our entire tourism sector, it is great news to see some positive signs in terms of growth and investment.’
While it is reassuring to see business outlook revived this quarter, significant damage to the industry has been experienced. South Australian businesses have lost $5.3 billion in visitor expenditure over the past two years and spending is still down 24% relative to 2019. Recovery is not immediate, and work is required to rebuild the industry to its pre-COVID value.
Minister Bettison added, ‘We are not out of the woods yet, however we are focussed on working with the industry to build back stronger and better than before.’