Investing in Western Australia's tourism industry is an opportunity potential investors should not miss. An array of exciting options is available, thanks to a powerhouse economy that shows no signs of slowing.
Western Australian Economy
- Fastest growing economy in Australia.
- World-class industries in resources and agriculture.
- Politically stable.
- In same time zone as Singapore, China and Hong Kong.
Western Australian Tourism
- Diverse natural attractions and untouched wonders.
- Strong government focus on building tourism market demand.
- Tourism development sites investor-ready, under the Landbank program.
- Air linkages through Western Australia continue to grow.
- Leading convention and exhibition travel destination in the Asia Pacific, with the new Perth Convention and Exhibition Centre.
Tourism in Perth
- Positive outlook for the first class hotel market in Perth.
- Growth in revenue per available room (RevPAR) climbed by around 13 percent in 2005.
- Occupancy rate of 77 percent and rising - the second highest level in 20 years.
- Perth recently rated favourite overseas city by the UK market.
Tourism Background
Western Australia is one of the oldest landscapes on earth and home to some of the world's most outstanding natural features and wilderness areas. The diversity of the bio-geographic regions contained within the state's 2.5 million square kilometres is unparalleled.
With a coastline stretching 12,500km long and a daily average of nine hours of sunshine year round, outdoor activities and adventures are always popular with visitors to WA.
Sunny Perth is Western Australia's capital city and home to most of the state's 2 million people. WA has a highly skilled and well-educated workforce of 850,000 people, a stable, progressive government, proximity to key markets in South East Asia and a wealth of natural resources that have enabled the state's economy to grow from $75 billion in 2000/01 to $123 billion in 2005/06. Growth in 2006/2007 is expected to be at 5.25 percent - well above the national average.
Geographically, Western Australia is ideally positioned to capitalise on growth in outbound travel, with nearly 4 billion people to its north in Asia. Expenditure by international arrivals to WA has jumped from $872 million per annum five years ago to nearly $1.2 billion per annum in 2005.
Investments in tourism in Western Australia are strongly supported by a sophisticated local market constantly seeking quality experiences. In the past five years, the number of Australians visiting WA has grown from 6.27 million per annum to 6.83 million per annum.
World-class marketing and protection of Western Australia's unique natural attributes together with imaginative promotion of other attractions have resulted in consistent growth in recent years. For those seeking to invest in a growing tourism industry, Western Australia is the real thing.
Additional details on the factors underpinning the state's ongoing success are featured in the following sections.