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Australia To Reopen International Borders On Feb 21st

By February 8, 2022 No Comments

Yesterday’s announcement from Government that international boarders will open to double vaccinated international tourists comes as welcome return to short-term rental property owners.  Although holiday home rentals have seen a big increase in occupancy and pricing over the past two years, this announcement will further increase these values even higher.

Already, news agencies around the globe are reporting the reopening of international borders including CNN, NBC, BBC and Bloomberg and already Australian booking enquiries are increasing as word gets out.

In 2019, approximately 9.4 million tourists visited Australia from overseas. This marked a 2.4% increase from 2018, when 9.2 million tourists visited Australia from overseas. The top six countries people visit Australia from are China, New Zealand, the United States, the United Kingdom, Japan, and Singapore. Given these statistics, it should come as little surprise that tourism is a lucrative industry in Australia. In 2019, tourism in Australia accounted for 3.1% of the national GDP, contributing $60.8 billion to the Australian economy.

The current lack of furnished short-term rental properties on the market is due to long term leases that were signed during the pandemic.  The preference for short-term rental properties by incoming tourists is so that families can enjoy time together, they can relax in a home environment and enjoy local communities for an extended length of time, they can cook their own food in combination with dining out and they can book flexible stays.

Want to find out how to get your investment property ready for the incoming tourists?  Get in touch today!

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    AirDesign

    Author AirDesign

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