Car rental in Australia grew 4% in value sales in 2017, following 2% growth in 2016. Similarly, the number of car rental transactions in the country increased 2% in 2017. Car rental companies, like many other businesses in the travel market, largely benefited from high flows of international tourists. Inbound arrivals to Australia increased 5% to 8.7 million trips in 2017. With continued geopolitical uncertainty in Europe, Australia will continue to be considered as a safe destination for a rapidly growing number of Asian tourists.
Car rental in Australia is expected to record 2% value growth overall at constant 2017 prices over the forecast period, placing the category at AUD1.6 billion in 2022. Strong tourist flows into Australia, particularly from Asia, are set to be the main driver of growth. The open skies policy with China and geopolitical uncertainty in Europe and the US will prompt both Chinese and other tourists to consider Australia as a safe holiday destination. However, this depends on the growth of the so-called FIT (Free Independent Travellers) segment, rather than guided packaged tours. FIT are more likely to be travelling independently of a group, hence requiring a rental car to attempt to cover some of Australia’s vast distances.
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This industry report originates from Passport, our Travel And Tourism market research database.