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Econosights: The importance of domestic tourism for the Australian economy

Econosights: The importance of domestic tourism for the Australian economy Key points Domestic tourism is worth more to the Australian economy (at over 4% of GDP) compared to how much international tourists bring into Australia (at 1.3%). And, Australian spending on overseas trips is worth twice the value of international tourist spending within Australia. So, there is potential to offset the loss of activity from international tourism (especially if the borders stay closed through …

FinancialPartners 27/01/2021 28/01/2021 Blog / E - Economics / E - Insights Papers / E - Market Update / E - Oliver's Insights / FP - Financial Planning (much / Australian / compared / Domestic / economy / International / more / over / Tourism / worth

What’s worth more – your belongings or your livelihood?

What’s worth more – your belongings or your livelihood? At least one in five of us will be unable to work due to injury or illness in our lifetime, yet we’re still more likely to insure our car than our most important asset–ourselves. You might have the attitude ‘she’ll be right’ but looking at the statistics, there is more chance of something going wrong than you might think. Over 80% of Australians insure their …