State Tourism Satellite Account 2019–20

Victoria tourism summary

 

Gross State Product (GSP)


$23.4 billion
Down 20.7% compared with 2018–19

Gross Value Added (GVA)


$21.2 billion
Down 20.6% compared with 2018–19

Employment


232,000 persons
Down 11.9% compared with 2018–19

 

Tourism GSP 

In 2019–20 (compared to 2018–19):

  • direct tourism GSP in Vic was worth $12.0 billion (down 18.6%)
    • this was a 2.6% direct share of total state GSP (down 0.7 percentage points)
    • total state GSP was worth $467.9 billion (up 2.9%)
  • indirect tourism GSP was worth an extra $11.4 billion to Vic’s economy (down 22.8%)
  • total tourism GSP (both direct and indirect) was worth $23.4 billion to Vic’s economy (down 20.7%).

Tourism GVA

In 2019–20 (compared to 2018–19):

  • direct tourism GVA in Vic was worth $11.1 billion (down 18.4%)
    • this was a 2.6% direct share of total state GVA (down 0.6 percentage points)
    • total state GVA was worth $433.7 billion (up 1.8%)
  • indirect tourism GVA was worth an extra $10.1 billion to Vic’s economy (down 22.9%)
  • total tourism GVA (both direct and indirect) was worth $21.2 billion to Vic’s economy (down 20.6%).

Tourism employment 

In 2019–20 (compared to 2018–19):

  • direct tourism employment in Vic accounted for 166,500 employees (down 7.4%)
    • this was a 4.9% direct share of total state employment (down 0.4 percentage points)
    • total state employment amounted to 3.4 million employees (up 0.9%)
  • indirect tourism accounted for 65,500 employees in Vic (down 21.6%)
  • total tourism employment (both direct and indirect) accounted for 232,000 employees in Vic (down 11.9%).

Notes

What is direct contribution?

Money spent directly in the tourism industry. Without a tourism industry in Vic, this money wouldn’t be generated, or these people wouldn’t be employed.  

What is indirect contribution?

The flow-on effect of the tourism industry. In Vic, for every dollar spent in the tourism industry, an additional 80 cents were spent elsewhere in the economy. 

Why we use GVA 

GVA allows easier comparisons across industries. GVA is equal to GSP minus taxes.