August 01, 2012
Sydney, 1 August 2012: Sydney continues to be a hot spot for big spending by international visitors, with predictions that tourists will spend $11.0 billion dollars in the emerald city in 2012, up 9.7% on 2011.
The MasterCard Index of Global Destination Cities, which measures cross-border travel and spending across 132 of the world's most important cities, has revealed Sydney sits eighth in the world for international visitor spend. London tops the list with a predicted $21.1 billion dollar spend in 2012, followed by Paris, Bangkok and Singapore.
The driving force behind Sydney's success has been visitors arriving from Asia-Pacific hubs including Singapore, from where visitors are expected to fork out $1.651 billion dollars, followed by Dubai with a total spend of $976 million dollars, and visitors travelling from Hong Kong who are expected to dole out $911 million in 2012.
Tourism & Transport Forum (TTF) Chief Executive John Lee said: "Tourism operators should be buoyed by increased spending in Sydney, with the city now regarded as one of the most celebrated tourist hot spots worldwide. The growth experienced in the Asia/Pac region has strong flow-on effects for our operators.
"Sydney punches above its weight in terms of tourism spending compared to visitor numbers- once we get people here the benefits are high on a per-capita basis. It's vital we harness this opportunity and make Sydney a priority destination for Asian travellers," Lee continued.
The Index results reveal while some regions of the world are suffering the effects of an economic slow-down, cross-border air travel and visitor spending continue to grow. Asia/Pacific destinations recorded the strongest growth in visitor arrivals and cross-border spending globally, with the region recording increases of 9.5% and 15% respectively.
MasterCard Australia Country Manager, Andrew Cartwright said, "Sydney continues to be a major feature on the bucket list for international visitors, both for business and pleasure. Australia's geographic isolation means visitors stay longer and spend more, a winning combination for travel and tourism operators. The index confirms what we all know - Sydney is a true world city."
The MasterCard Worldwide Index of Global Destination Cities is compiled using international flight and flight capacity information purchased from OAG Global, a provider of international aviation data. Flight schedules are also used for calculating flight frequency between pairs of cities. Airlines also publish on a regular basis their historical load factor, and advance flight schedules, which are then used to estimate the actual outbound passenger departures, and for forecasting outbound passenger departures in the coming year.
|Rank||Destination City||Market||Visitor Spend(US$ Billion)||% Growth 2011 & 2012||2012 Visitors(Millions)*|
|7||Hong Kong||(SAR) China||$7.3||$8.6||$9.5||9.5%||11.1|
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