Download the 2023-24 report
The Tourism Investment Monitor details investment in 3 key tourism segments. In 2023-24, the tourism investment pipeline consisted of 346 projects with a value of $63.4 billion. This was an increase of $7.3 billion (13%) and 39 projects from the previous year and consisted of:
- Tourism related arts, recreation, and business services: 160 projects valued at $28.9 billion
- Aviation: 22 projects valued at $23.1 billion
- Accommodation: 164 projects valued at $11.4 billion, with the potential to contribute 23,700 rooms to the national accommodation supply.
The report also groups investments by project phase and shows a strong near-term and long-term future pipeline. The 2023-24 pipeline includes:
- Proposed: 32 projects valued at $16 billion
- Planning: 180 projects valued at $28 billion
- Under-construction: 134 projects valued at $19.4 billion
In 2023-24, New South Wales had the most projects and expenditure of any state, Queensland had the 2nd largest number of projects and Victoria the 2nd largest spend. The state breakdown of the investment pipeline includes:
- New South Wales: 94 projects valued at $16.3 billion
- Victoria: 48 projects valued at $16 billion
- Queensland: 58 projects valued at $12.4 billion
- Western Australia: 39 projects valued at $7.7 billion
- South Australia: 40 projects valued at $3.4 billion
- Tasmania: 36 projects valued at $3.3 billion
- Northern Territory: 21 projects valued at $2.8 billion
- Australian Capital Territory: 10 projects valued at $1.5 billion
The tourism investment monitor reports on mixed-use developments separately, because the exact contribution to the visitor economy is difficult to determine. Mixed-use developments included in this report typically contain food and beverage, retail services and/or hotel or short-stay rental properties that contribute significant value to the visitor economy.
In 2023-24, there were 191 mixed-use developments valued at $85.3 billion with the potential to add 30,200 rooms to accommodation supply. This was an increase of $12.3 billion (14%) and 17 projects from the previous year.
About the report
For projects to be included in this report, they must meet an expenditure threshold of $20 million or more. Projects in the pipeline are mostly new builds, but major renovation projects are also within scope. The project values and pipeline progression are as of year ending June 2024.
The Tourism Investment Monitor provides insights and analysis regarding:
- recent tourism investment trends
- project development stage and sector, by state and territory
- progress through stages of the development pipeline.
The pipeline comprises stand-alone accommodation projects, aviation projects and tourism-related arts, recreation, and business services. It excludes mixed-use developments from the total. However, the report contains separate analysis of the value and volume of mixed-use projects with a tourism component.
Note that there are projects included in the pipeline for which the full investment value was unavailable. Therefore, the estimated total value of investment may understate the real value. Similarly, there are projects for which the number of rooms under development was unavailable, therefore the estimated room count may understate the real total.
Data sources
The 2023-24 investment pipeline uses 4 key data sources:
- Deloitte Access Economics’ Investment Monitor
- STR Global Asia Pacific’s Pipeline Database
- Commonwealth, state and territory budget papers
- Investment authorities within state and territory governments.
