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A focus on experience-led tourism along with the delivery of millions of extra airline seats and tens of thousands of hotel rooms form part of a plan to transform NSW’s visitor economy released today.

The new NSW Visitor Economy Strategy will see the NSW Government adopt an ambitious goal of $91 billion in annual visitor economy expenditure by 2035 - a 40% increase on the previous goal. The accelerated growth is expected to provide a big economic windfall for regional communities, with $44 billion (48%) of the $91 billion expected to be spent in regional NSW. 

This growth trajectory will further cement tourism as a critical pillar of future growth in the NSW economy, driving up to 150,000 new jobs by 2035.

The growth will be underpinned by a potential increase of 8.5 million airline seats due to the new Newcastle Airport international terminal opening in 2025, the opening of the Western Sydney International Airport in 2026, increased capacity at Sydney Airport and growth in cross-border arrivals through Canberra Airport and Gold Coast Airport.

The NSW Government has already been working to boost aviation capacity through support for the recently announced Turkish Airlines route to Sydney Airport and an agreement to support Newcastle Airport to attract more international routes.

This additional capacity will increase competition, providing a greater incentive for European travellers to choose NSW as their holiday destination and put downward pressure on the cost of holidays for NSW families.

To meet the $91 billion stretch goal, the review highlights key challenges including:

• The need for 40,000 extra hotel rooms, a 41% increase on what’s currently available
• Significant worker and skills shortages in roles such as tour guides and chefs
• Need for increased business event facilities in Sydney, Western Sydney and priority regional areas.

The review sets out a series of recommendations for achieving the stretch goal including:

• Prioritise the NSW Visitor Economy Strategy as a government-wide economic focus.
• Anchor the Visitor Economy Strategy around ‘experience tourism’
• Celebrate First Nations culture and businesses through authentic visitor experiences.
• Increase accommodation quality across regional NSW and quantity in Greater Sydney.
• Boost aviation capacity in key domestic and international markets.
• Leverage leisure events to grow season al visitation and showcase NSW’s strengths.
• Dominate Australia’s business events sector.
• Capitalise on NSW’s status as being number one for international students.
• Foster a diverse, skilled visitor economy workforce.

Announcing the strategy, NSW Premier, Chris Minns stated “from pristine beaches to lush national parks, NSW is an unbeatable hotspot for tourists across the globe.

“People coming to New South Wales for a holiday is at an all time high, but this review shows there are opportunities to grow it even more, partially due to more airports opening and more flight routes being secured.

“We are ready to put our shoulder to the wheel and attract even more travellers to NSW, boosting local business and creating thousands of jobs.”

The NSW visitor economy is the biggest in Australia, achieving a record $53 billion in expenditure in FY24 and employing almost 300,000 workers. The NSW Visitor Economy Strategy 2030 had a target of $65 billion. The review into the 2030 strategy will inform the new NSW Visitor Economy Strategy 2035, which will be released in the coming months.

Click here to view a summary of the review of the NSW Visitor Economy Strategy 2030.

Related Articles

7th October 2024 - TAFE NSW to partner with Destination NSW to offer training programs to plug jobs gap in the visitor economy  

4th October 2024 - Focus on experience-led tourism takes centre stage at 2024 NSW Visitor Economy Forum

3rd October 2024 - Federal Tourism inquiry releases recommendations to drive industry

3rd October 2024 - Big Red Group partners with Welcome to Country to enhance indigenous experience access

1st October 2024 - NSW visitor attraction ‘Place of Koala’ marks construction milestone

1st October 2024 - Sydney’s new 24-hour cargo precinct to benefit tourism operators

1st October 2024 - NSW takes significant step towards reducing cruise ship pollution

26th September 2024 - Importance of experience the theme for 2024 NSW Visitor Economy Forum

25th September 2024 - Perisher forced into early closure for 2024 Season

25th September 2024 - NSW Visitor Economy generates $52.9 billion in expenditure

23rd September 2024 - Visitors to NSW want more than an Opera House ‘selfie’

26th July 2024 - Launch of new body for NSW Tourism industry

6th August 2024 - Destination NSW calls for creative ideas for next year’s Vivid Sydney event

24th April 2024 - Destination NSW seeks industry input into 2030 tourism strategy

17th November 2022 - New Chairperson announced for Destination NSW

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