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 2012-13 benchmark reference period (i.e. back to 2013-14) with the exception of the Air, water and other transport industry which is revised back to 2010-11. These revisions are the result of incorporating updated data from a range of input data series (see below).
- National Accounts data used in the compilation of tourism demand has been revised back to and including the 2013-14 reference period.
- Estimates of output and value added for the Air, water and other transport industry have been revised back to 2010-11 due to adjustments as part of the regular confrontation process of visitor survey data (demand side data) with supply side data in the Australian System of National Accounts. In addition, there have been changes in the coefficients used to derive tourism industry value added and intermediate inputs for this industry. As noted in the explanatory notes of this release, the underlying assumption of the three yearly benchmarking approach is that structural change occurs slowly in an industry. Therefore for years between benchmarks, the previous benchmark coefficients are normally used to allocate direct tourism gross output to producing industry and in the derivation of direct gross value added. However, where there is significant change in input costs over time (such as fuel), the ratio of intermediate consumption established in the benchmark may no longer be valid. To overcome this deficiency, the benchmark coefficients can be altered in the TSA updates where there is strong evidence of structural change in a tourism related industry. This is the case for the Air, water and other transport industry in recent years, so consequently the coefficients have been revised back to and including 2012-13. The revised estimates better reflect total output and value added for the industry as shown in the Australian National Accounts supply and use tables.
- Estimates of passenger transport services credits have been revised in the International Trade in Services data published in International Trade in Goods and Services, Australia (cat. no. 5368.0) back to 2012-13. Further revisions to this series back to 2003-04 will be released in 2017. To avoid a minor break in series, these revised estimates will not be incorporated in the TSA until the complete series is available.
- Estimates of tourism employment have been revised in the reference periods subsequent to the 2012-13 benchmark period. These changes are a consequence of minor revisions to data published in Labour Force, Australia, Detailed, Quarterly (cat. no. 6291.0.55.003) as well as incorporating improved seasonal analysis factors. See the Changes in this issue section of Main Features for more detail.
- Estimates of tourism hours worked have also been revised in the reference periods subsequent to the 2012-13 benchmark period. These changes are a consequence of minor revisions to data published in Labour Force, Australia, Detailed, Quarterly (cat. no. 6291.0.55.003).
- Data on the number of short-term arrivals and departures (tables 18 and 19 of the TSA), have been revised for the 2014-15 reference period and are consistent with data published in Overseas Arrivals and Departures, Australia (cat. no. 3401.0).
As usual economy wide national accounting aggregates have been revised across the entire series to ensure consistency with published estimates in the 2015-16 issue of Australian System of National Accounts
(cat. no. 5204.0) published on 28 October 2016. These revisions affect tourism shares of GDP and GVA presented in tables 1, 2 and 5 of the TSA.
Note also that revisions to the level of the entire series for the tourism chain volume estimates are an expected part of re-referencing the indexes to equal 100 in the latest reference year (2014-15).