Australia’s services exports grew by 9.2 per cent to set a new record of $71.2 billion in 2016.
The growth in services exports is being driven by tourism and international education industriesas international visitors and students choose Victoria and Australia.
Short-term visitor arrivals to Australia increased by 11 per cent to a record 8.3 million visitors in 2016. New Zealand, China and the United Kingdom led the way as Australia’s largest sources of international visitors.
Victoria's visitor economy contributes over $23 billion to Victoria's Gross State Product each year and generates employment for almost 210,000 people.
In the year ending March 2017, international overnight visitor expenditure in Victoria grew by 7.8 per cent year-on-year to $7.3 billion. Since the year ending March 2012 (last five years), international overnight expenditure in Victoria has grown at an average annual rate of 11.6 per cent, above the national average of 8.6 per cent.
The numbers of people studying in Australia continues to grow with expenditure increasing 17 per cent to $22.5 billion in 2016, highlighting the outstanding education opportunities Victoria and Australia offers.
Every year, Victoria welcomes over 175,000 international students from more than 160 countries to study, attracted by our innovative system, and multifaceted education system.
Growth in services exports will be one of the driving forces that fuels Australia's economy beyond the current 26 years of continuous growth.
Demand for Victorian services will continue to grow as Australia integrates more with the Asia Pacific through free trade agreements.
Visit Tourism Victoria to find out more about Victoria’s tourism industry.