5249.0 - Australian National Accounts: Tourism Satellite Account, 2018-19 Quality Declaration 
Latest ISSUE Released at 11:30 AM (CANBERRA TIME) 12/12/2019   
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Revisions in this issue

Revisions are a necessary and expected part of accounts compilation as data sources are updated and improved over time. This issue includes revisions to tourism aggregates for the years subsequent to the latest (2016-17) benchmark.

Revisions to 2017-18 data include:

    • Revisions to domestic tourism expenditure and consumption. These are a result of:
      • Revisions to National Accounts source data used in the compilation of estimates of tourism demand. Consequently, estimates of tourism industry output, tourism value added and tourism gross domestic product in the TSA have also been revised.
      • Revisions to Tourism Research Australia's (TRA) National Visitor Survey (NVS) data. The NVS data has been revised back to 2017-18 to align with the latest release of the ABS population projections that are used to benchmark NVS results to the Australian population. Further information can be found at National Visitor Survey Methodology.
      • Adjustments as a result of the TSA annual balancing and confrontation process. This is particularly the case for tourism products where the estimates have been modelled using a range of source data.
    • Revisions to international tourism consumption. These are a result of:
      • Revising estimates for Imputed and actual rent on vacation homes as well as imputations for the costs to host households (for example Food, alcohol and other beverage products and Shopping, gifts and souvenirs etc.). These revisions reflect some small changes to the number of international visitor nights where visitors are staying in their own property or with friends and relatives.
      • The incorporation of updated data from the Survey of International Trade in Services (SITS). The TSA uses short term visitor data from SITS to estimate education consumption by international visitors. Data for 2017-18 has been revised since the last TSA release.
      • Small upward revisions for international airfares in 2017-18 as a consequence of revisions to air passenger transport service credits in the September 2019 issue of International Trade in Goods and Services, Australia (5368.0).

Although generally the TSA is only revised back to the years subsequent to the latest benchmark, there are two key exceptions in this release:
    • Minor revisions to tourism employment across the time series, which are a consequence of :
      • Revisions to data published in Labour Force, Australia, Detailed, Quarterly (cat. no. 6291.0.55.003).
      • Updated seasonal analysis factors from Labour Force have been incorporated in all periods to reduce the variability in the tourism industry estimates.
      • Minor adjustments to selected tourism industries to reflect some changes to the tourism value added ratio since the benchmark.
    • Consumption by international visitors outside Australia as part of an inbound trip (non-resident to non-resident expenditure). This data item is a stand alone series and does not impact on estimates of Tourism GDP. This series has been revised for the whole time series as a result of the following:
      • Improvements to the estimated consumption of air services provided by foreign carriers;
      • Changes to travel agent margins to ensure consistency between margins paid by domestic travellers and residents travelling overseas; and
      • Revisions to non-resident pre-purchased international airfares and international airfares purchased in Australia. These revisions are a result of utilising more recent data on resident/foreign carriers market shares.

In addition, economy wide national accounting aggregates have also been revised across the entire series to ensure consistency with published estimates in the 2018-19 issue of Australian System of National Accounts (cat. no. 5204.0) published on 25 October 2019. These revisions affect tourism's share of GDP and GVA presented in Tables 1, 2 and 5 of the TSA data cube.

Note also that revisions to the chain volume estimates level across the time series are an expected part of re-referencing the indexes to 100 in the latest reference year (2017-18).