Australia’s largest ever drop in overseas visitor arrivals in March: -60% y/y

Data from the Australian Bureau of Statistics 

  • Australia has recorded its largest ever drop in overseas travel
  • visitor arrivals falling 60 per cent in March 2020 compared to a year earlie
  • These large decreases reflect the travel restriction progressively put in place by the Australian Government from the beginning of February due to the outbreak of COVID-19.

The bigger picture on this is:

  • this is Oz data but it will be repeated right across the globe to varying extents
  • April will be even worse

Tourism is a huge industry, a huge employer. The industry has been destroyed. Recovery will come, but it’ll be slow.