Earlier this month the Australian Bureau of Statistics revealed that the Australian tourism boom is in full swing.
In September inbound visitor numbers grew 6.7% on the prior corresponding period to 752,500, with Chinese tourism once again the biggest driver of this growth.
I believe this is great news for Australian companies with exposure to the tourism industry and could put them in a position to outperform the market over the next few years.
Three shares which I think could be worth a closer look are listed below:
Event Hospitality and Entertainment Ltd (ASX: EVT)
Thanks largely to its accommodation brands including Rydges, QT, and Thredbo Alpine Village, I think Event is a great option for investors today. I believe that the growing number of short-term visitors will cause demand for its hotel rooms to increase strongly, leading to higher occupancy levels and room rates.
Sealink Travel Group Ltd (ASX: SLK)
As a provider of ferry services in key tourist hotspots such as Sydney Harbour and Kangaroo Island, I believe SeaLink Travel is another great option for investors looking to profit from the tourism boom. However, with oil prices on the rise, investors should keep a close eye on SeaLink's fuel costs and margins in FY 2018.
Sydney Airport Holdings Pty Ltd (ASX: SYD)
As the main gateway into Australia I believe Sydney Airport is in a great position to benefit from the tourism boom. Last week the airport operator reported its traffic performance for the month of October. A total of 3,793,000 passengers passed through its gates last month, an increase of 3.8% on the prior corresponding period. International passengers were once again the main driver of this growth, increasing 5.8% year-on-year.
