Five-year tourism high in Northern Territory highlights strengthening economy
A recent release from the Northern Territory government has highlighted the rising strength of the state's tourism industry, with more than one million Australians spending $1.4 billion on visiting the region over the last 12 months. This could be encouraging news for anyone interested in purchasing their own commercial property in Darwin, ahead of future tourism growth across the state.
Tourism Minister Matt Conlan said these latest figures found domestic visitation to the state was up 9.4 per cent, with domestic visitor expenditure rising by 3 per cent – fantastic news for the recovery economy.
"The accommodation squeeze remains a challenge in Darwin, but it is encouraging to see today's research reveal the city is still popular with Australians with a 15 per cent increase in total visitors to 598,000 and the specific holiday market also up by 6.8 per cent to 233,000 – and these figures don't include the upcoming peak dry season months of July and August," said Mr Conlan in a 10 September statement.
With the upcoming summer season expected to bring even more tourism, now could be a brilliant time to consider investing in your own slice of commercial real estate in the state.