The achievement was even more remarkable considering that the pre-COVID peak in 2019 was $32.5 billion, reaching the Victorian Government’s 2024 tourism target outlined in the Visitor Economy Recovery and Reform Plan more than a year ahead of schedule.

The latest data – released by Tourism Research Australia – showed:

• Visitor spend in Victoria for the year ending March 2023 surpassed the 2019 peak of $32.5 billion
• Victoria is leading the nation’s tourism recovery, attracting 22.1 per cent of Australia’s total visitor spend over the 12-month period – the largest increase in the country, jumping by 2.9 per cent
• Melbourne retains its position as top interstate overnight leisure destination in Australia. A total of 3.6 million visitors stayed 14.6 million nights, contributing $5.1 billion to the state’s economy
• Regional Victoria saw all-time highs, with total domestic visitor spend in key tourist areas such as Phillip Island increasing by 85 per cent, High Country up by 74 per cent, and the Grampians rising by 72 per cent since 2019
• The number of Victorians enjoying a regional overnight stay increased by 6 per cent, with 16.3 million travellers staying a total of 41.8 million nights (up 8 per cent), adding $8.5 billion to the state’s economy.

While international markets are recovering more gradually, they reached $4.2 billion in visitor expenditure in Victoria in the year ending March 2023 – about 50 per cent of 2019 levels. China returned as the number one international market in terms of expenditure despite only reopening borders in January. India continues to be a growing international market with visitor expenditure now 11 per cent higher than in 2019.

Victorian Chamber Advocacy

The Victorian Chamber is an advocate of growing Victoria’s visitor and regional economy and welcomes this recent milestone. By focusing on growing our visitor economy and investing in our unique tourism industry through long-term strategies to drive demand for events, Victoria could be the envy of the world as the best place to learn, work, live and visit.

In May, the Victorian Government released its Experience Victoria 2033 vision to grow Victoria’s tourism industry, which was informed by consultation with key stakeholders including the Victorian Chamber. It reflects the tourism sector’s experience and ambitions for the future, particularly supporting and growing experiences in five key pillars – First Peoples-led experiences, wellness, arts and culture, nature, and food and drink.

As noted in our 2023-24 State Budget submission, as Victoria begins planning for the 2026 Commonwealth Games, we have a unique opportunity to showcase our local attractions and tourism industry. The Government must provide adequate funding and long-term planning to ensure economic recovery to pre-pandemic levels not just in the short term, but for future generations.