Tourism and Events Queensland (TEQ) has released its latest International Tourism Snapshot, and it shows a solid recovery in international tourism in Queensland and nationally, particularly in Tropical North Queensland (TNQ), which includes Cairns and Cape York (see my chart below). With the Australian dollar falling recently, and with future declines possible, I expect international tourism will continue to recover.
The TEQ publication shows a large part of the increase in international tourism in TNQ is due to an influx of Chinese visitors (an annual growth of 40%). As discussed here before, many in TNQ are hoping Chinese tourism becomes as signficant in the region as Japanese tourism was in the past.
The other important economic news of the day was the slightly weaker than expected GDP figures. Queensland Treasury has nice information briefs on the data (National Accounts and State Details) and Pete Faulkner has a good summary (GDP slightly weaker).