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Tourism impacts significantly on the Australian economy. In 2003-2004 the tourism industry accounted for $32 billion directly and nearly $26 billion indirectly of total Gross Domestic Product. This is equivalent to 7.1 per cent of the Australian Gross Domestic Product.
This indirect economic information is important for efficient and effective policy decisions to guide the future development of tourism. To obtain this information, Tourism Research Australia requires an economic model based on the Tourism Satellite Account which estimates tourisms direct effects. The direct effect of tourism is when the change in tourism expenditure immediately affects production.
Indirect Economic Modelling Methodology
Indirect effects of tourism can be calculated by using IO analysis based on a fundamental identity equating supply and demand in the economy.
The indirect economic contribution model provides a foundation for more sophisticated analyses of the impact of tourism, and the comparison of different policy options using techniques such as computable general equilibrium modelling. read more ...
This indirect economic information is important for efficient and effective policy decisions to guide the future development of tourism. To obtain this information, Tourism Research Australia requires an economic model based on the Tourism Satellite Account which estimates tourisms direct effects. The direct effect of tourism is when the change in tourism expenditure immediately affects production.
Indirect Economic Modelling Methodology
Indirect effects of tourism can be calculated by using IO analysis based on a fundamental identity equating supply and demand in the economy.
The indirect economic contribution model provides a foundation for more sophisticated analyses of the impact of tourism, and the comparison of different policy options using techniques such as computable general equilibrium modelling. read more ...