On Monday the Australian Bureau of Statistics released its tourism data for the month of July.
According to the release, Australia welcomed 766,600 short term visitors during the month, up 0.1% on June's numbers and 2.8% higher than a year earlier.
Short-term resident returns (outbound tourism) also continued its strong run. A total of 931,800 people returned to Australia from overseas during July, up 0.3% on June's numbers and 5.8% higher than the same period in 2017.
Clearly this data shows that the inbound and outbound tourism boom has continued, which I feel makes it a great place for investors to consider putting their money.
Three shares I think investors ought to consider are listed below:
Crown Resorts Ltd (ASX: CWN)
As a leading casino and resort operator I expect Crown Resorts to benefit greatly from the inbound tourism boom. I suspect that increasing demand for rooms will lead to improved occupancy levels, better room rates, and robust growth for its core business. In addition to this, with the $2.2 billion Barangaroo project due for completion in 2021, I expect Crown could see a jump in VIP play in the future.
Experience Co Ltd (ASX: EXP)
This adventure tourism company's shares have recently fallen to a 52-week low after a disastrous performance in FY 2018. However, it is worth noting that its poor performance was outside of management's control and caused by a once-in-a-generation weather event that closed many of its businesses for a prolonged period. Weather permitting, I expect Experience Co to bounce back strongly in FY 2019 and then continue its growth in the future thanks to the tourism boom.
Webjet Limited (ASX: WEB)
My favourite tourism share would have to be this online travel agent. As more and more bookings are made online, I expect Webjet to benefit greatly from the inbound and outbound tourism boom. Especially given the popularity of its various brands and the way they have outpaced industry growth significantly. Pleasingly, management expects the company to continue this bookings growth outperformance over the medium term.
