INTRODUCTION OF TOURISM CHAIN VOLUME ESTIMATES
The ABS has published current price annual estimates of the direct contribution of the tourism industry to the Australian economy in Australian National Accounts: Tourism Satellite Account (cat. no. 5249.0) since 2000. These estimates are useful for comparisons of tourism with key aggregates and other industries, however, they do not account for the effects of price changes.
This information paper presents the methodology for experimental chain volume estimates for the tourism industry. Chain volume estimates show changes in pure volume (or quantity) terms with price effects removed. They will enable comparison of inflation adjusted growth between the tourism industry and other industries within the economy, as well as between the tourism sub-industries.
The derivation of chain volume estimates also enables a tourism price index to be calculated. This price index will allow comparison of price changes between the ‘basket’ of tourism products and the general basket of goods included in the Consumer Price Index (CPI).
A clearer picture of the drivers of tourism gross domestic product (GDP) emerges by separating the price and volume effects. For example, users can compare price changes for tourism products relative to both other tourism and non-tourism products and subsequently analyse the impact these price changes have on volume.
Experimental annual chain volume measures of tourism GDP and associated aggregates for the period 2000-01 to 2012-13 are presented in the data cubes attached to this information paper. These data are consistent with those published in the 2012-13 release Australian National Accounts: Tourism Satellite Account (cat. no. 5249.0) in December 2013.