Domestic tourism set to boom in regional Australia

Regional towns and cities are not only central to the Australian way of life but are also an economic powerhouse. The overall level of regional contribution to GDP is $584 billion dollars – roughly a third of the nation’s output. In 2020, 27 per cent of new businesses were started in regional Australia and those numbers are set to grow with more Australians making it their home. The Commonwealth Bank’s index which tracks net migration to regional areas, shows an increase of more than 30 per cent in the September quarter which is the largest bounce in three years. Commonwealth Bank EGM of Regional and Agribusiness Banking Paul…