Australia's Government: Continued economic recovery to rely on containment of coronavirus outbreaks

Australia's Government stated (11-May-2021) as international borders reopen and international tourism gradually returns over 2022, spending from incoming tourists is expected to be more than offset by Australians spending more on overseas travel and less on domestic consumption. The gradual arrival of international students and migrants over 2022 will support growth, particularly for education services exports and consumption, and assist in filling skill gaps. Australia's Government said continued economic recovery will rely on the effective containment of coronavirus outbreaks both in Australia and abroad. This will be a key factor in the timing of the reopening of international borders, which could weigh on the outlook for the tourism and education sectors. [more - original PR]