Marine Sightseeing Tours in Australia Industry Market Research Report Now Available from IBISWorld

The depreciation of the Australian dollar is expected to lead to increases in international tourists coming to Australia, particularly from growth markets in Asia, which will likely increase demand for industry services. For this reason, industry research firm IBISWorld has added a report on the Marine Sightseeing Tours in Australia to its growing industry report collection.

  • Share on TwitterShare on FacebookShare on Google+Share on LinkedInEmail a friendRepost This
IBISWorld Market Research

IBISWorld Market Research

Increasing tourism from emerging markets like China and India will boost demand for industry services.

Melbourne, Australia (PRWEB) May 22, 2014

The Marine Sightseeing Tours industry provides sightseeing and scenic tour services along coastlines and waterways. These tours allow visitors to experience the Australian coastline in a novel way for recreational purposes. Point-to-point travel services are not included within the industry. Tourists and travellers generally regard the industry's services as optional extras that exert a small influence on their travel planning. This places industry operators in an uncomfortable position, unable to significantly influence demand, and, in the short term, constrained in their ability to adapt supply to meet demand. The industry operates expensive vessels and operating licences are a fixed fee and hard to come by. These inflexible costs led to profit declines in 2008-09, when the global financial crisis hurt domestic and international demand for Australian tourism.

The relative competitiveness of travel within Australia compared with competitor nations has affected the industry over the past five years. For much of the period, demand for industry services has been suppressed as part of a broader set of challenges facing the domestic tourism sector. IBISWorld industry analyst Caroline Finch states, “These challenges have included the strength of the Australian dollar, weak economic performance in traditional visitor origin markets and rising domestic discretionary incomes, which have allowed Australians to travel abroad in growing numbers.” Over the five years through to 2013-14, the industry has contracted at a compound annual rate of 0.1% to $939.7 million. In the past two years, these trends have started to change, with growth in visitor numbers from emerging economies. According to Finch, “A weakening Australian dollar is expected to boost both domestic and international tourist spending in Australia.” Demand from emerging markets, especially from Chinese visitors, is also expected to grow, supporting demand for industry services. Industry revenue is forecast to continue to strengthen in the next five years, growing at a compound annual rate of 2.3% to be worth $1.1 billion.

The Marine Sightseeing Tours industry is characterised by a low level of market share concentration. The industry is highly fragmented, with many self-employed operators and single-establishment enterprises. The majority of companies in the industry operate within a narrow geographic region or within a single area of transportation. The level of demand for industry services is not typically high enough to support the operation of large-scale businesses from a single location. As a result, those operators who have successfully expanded their operations have done so through multiple locations. The industry’s only major player is Quicksilver Connections Limited. For more information, visit IBISWorld’s Marine Sightseeing Tours report in Australia industry page.

Follow IBISWorld on Twitter: http://twitter.com/#!/ibisworldau

IBISWorld Industry Report Key Topics

Businesses in this industry operate water-based transportation equipment for scenic and sightseeing activities. This industry excludes point-to-point water transport services such as ferries or cruise ships. The service provided is usually local in nature and generally includes tour commentary.

Industry Performance
Executive Summary
Key External Drivers
Current Performance
Industry Outlook
Industry Life Cycle
Products & Markets
Supply Chain
Products & Services
Major Markets
International Trade
Business Locations
Competitive Landscape
Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Basis of Competition
Barriers to Entry
Industry Globalisation
Major Companies
Operating Conditions
Capital Intensity
Technology & Systems
Revenue Volatility
Regulation & Policy
Industry Assistance
Key Statistics
Industry Data
Annual Change
Key Ratios

About IBISWorld Inc.
Recognised as the nation’s most trusted independent source of industry and market research, IBISWorld offers a comprehensive database of unique information and analysis on every Australian industry. With an extensive online portfolio, valued for its depth and scope, the company equips clients with the insight necessary to make better business decisions. Headquartered in Melbourne, IBISWorld serves a range of business, professional service and government organisations through more than 10 locations worldwide. For more information, visit http://www.ibisworld.com.au or call (03) 9655 3886.


Contact