Victoria summary

Gross State Product (GSP)

$10.6 billion
Down 55% compared with 2019–20
Down 64% compared with 2018–19

Gross Value Added (GVA)

$9.4 billion
Down 57% compared with 2019–20
Down 65% compared with 2018–19

Employment

120,000 persons
Down 48% compared with 2019–20
Down 54% compared with 2018–19

Tourism GSP 

In 2020–21: 

  • Direct tourism GSP in Vic was worth $5.4 billion. This was down:
    • 57% on 2019–20
    • 63% on 2018–19. 
    This was a 1.1% direct share of total state GSP. It was down:
    • 1.5 percentage points on 2019–20
    • 2.0 percentage points on 2018–19. 
  • Total state GSP was worth $474.2 billion. This was up:
    • 0.9% on 2019–20
    • 2.8% on 2018–19. 
  • Indirect tourism GSP was worth an extra $5.3 billion to Vic’s economy. This was down:
    • 54% on 2019–20
    • 64% on 2018–19. 
  • Total tourism GSP (both direct and indirect) was worth $10.7 billion to Vic’s economy. This was down:
    • 55% on 2019–20
    • 64% on 2018–19. 

Tourism GVA  

In 2020–21: 

  • Direct tourism GVA in Vic was worth $4.9 billion. This was down:
    • 57% on 2019–20
    • 64% on 2018–19.
    This was a 1.1% direct share of total state GVA. It was down:
    • 1.5 percentage points on 2019–20
    • 2.0 percentage points on 2018–19. 
  • Total state GVA was worth $442.6 billion. This was up:
    • 1.3% on 2019–20
    • 3.7% on 2018–19. 
  • Indirect tourism GVA was worth an extra $4.5 billion to Vic economy. This was down:
    • 56% on 2019–20
    • 65% on 2018–19. 
  • Total tourism GVA (both direct and indirect) was worth $9.4 billion to Vic’s economy. This was down:
    • 57% on 2019–20
    • 65% on 2018–19. 

Tourism employment  

In 2020–21: 

  • Direct tourism employment in Vic accounted for 109,800 employees. This was down:
    • 36% on 2019–20
    • 40% on 2018–19. 
    This was 3.3% direct share of total state employment. It was down:
    • 1.8 percentage points on 2019–20
    • 2.2 percentage points on 2018–19. 
  • Total state employment was 3.4 million employees. This was:
    • down 0.5% on 2019–20
    • up 0.3% on 2018–19. 
  • Indirect tourism accounted for 10,200 employees in Vic. This was down:
    • 83% on 2019–20
    • 87% on 2018–19. 
  • Total tourism employment (both direct and indirect) accounted for 120,000 employees in Vic. This was down:
    • 48% on 2019–20
    • 54% on 2018–19. 

Definitions

About direct contribution 

Direct contribution is money spent directly in the tourism industry. Without a tourism industry in Vic:

  • this money wouldn’t be generated in the Australian economy
  • this employment wouldn’t be created in the Vic workforce.   

About indirect contribution

Indirect contribution is the flow-on effect of the tourism industry. For every dollar spent in the tourism industry in Vic, an extra 79 cents were spent elsewhere in the economy.  

Why we use GVA  

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