Caravan Parks and Camping Grounds in Australia Industry Market Research Report Now Updated by IBISWorld
Melbourne, Australia (PRWEB) December 01, 2014 -- Operators in the Caravan Parks and Camping Grounds industry in Australia have worked at reinventing themselves over the past 10 years, moving away from their original core services and offering more facilities and better accommodation. Operators have improved facilities for families, which represent the industry's major market, and now provide a greater number of self-contained cabins and units. According to IBISWorld industry analyst Ryan Lin, “the industry has become a more significant component of total tourist accommodation in Australia, competing fiercely with other forms of budget accommodation such as motels and backpacker hostels.” Caravan park and camping ground operators weathered the economic slowdown of 2007-08 and 2009-10 better than other tourist accommodation providers by offering a combination of low-cost and high-quality accommodation. However, industry growth has been constrained by a large number of caravan park and camping ground closures over the past five years. For these reasons, industry revenue is expected to grow at a modest annualised 1.8% over the five years through 2014-15.
Despite caravan park and camping ground closures, a number of factors have positively affected the industry. Long- or medium-term Australia-wide caravan, campervan or recreational vehicle (RV) journeys have become increasingly popular among retirees over the past five years, especially as baby boomers have reached retirement age. “In addition, caravan park and camping ground operators have invested heavily in upgrading park facilities as the industry becomes more competitive and campers' expectations rise,” says Lin. As the Australian dollar continues to fall in 2014-15, IBISWorld forecasts that industry revenue will grow by 2.3% for the year, to total $1.5 billion, as travellers sideline international trips in favour of more affordable trips within Australia. The industry displays a low level of market share concentration. Major players include Discovery Parks Holdings Pty Limited.
Caravan Parks and Camping Grounds industry enterprise numbers and capacity are expected to continue declining at slow, steady rates as a result of strong competition. However, this will be offset by an increasing number of senior travellers accessing retirement savings and travelling around Australia, and greater yields from higher level accommodation choices such as self-contained cabins. Investment by property funds into caravan parks is also expected to increase ownership consolidation, although overall operations of caravan parks and camping grounds are to remain mostly unchanged.
For more information, visit IBISWorld’s Caravan Parks and Camping Grounds industry in Australia report page.
Operators in this industry manage holiday parks, caravan parks and camping grounds with 40 or more powered sites for caravans, cabins, flats, units and villas that provide either short-term or long-term accommodation to the general public. Operators also provide toilet, shower and laundry facilities for guests.
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IBISWorld industry Report Key Topics
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.
Gavin Smith, IBISWorld, http://www.ibisworld.com, +61 396553838, [email protected]
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