Fastest Growing Industries in Australia by Revenue Growth (%) in 2022

1. Inbound Tour Operators in Australia

2022-2023 Revenue Growth: 4280.0%

Inbound tour operators primarily arrange and assemble travel packages, combining various domestic tourism products such as accommodation, transport, scenic tours and meals. These packages are onsold to overseas travel wholesalers and retailers, and international travellers subsequently purchase them. Industry revenue is largely tied to the number of inbound tourists visiting Australia. As a result, the COVID-19 pandemic and the Federal Government's subsequent inbound travel restrictions decreased demand for industry services from March 2020 to February 2022. Therefore, industry revenue is expected to decrease at an annualised 10.9% over the five years through 2022-23, to total $321.1 million. However, this trend... Learn More

2. Travel Agency and Tour Arrangement Services in Australia

2022-2023 Revenue Growth: 93.7%

The Travel Agency and Tour Arrangement Services industry has undergone significant structural changes over the past five years. The rapid uptake of online booking platforms has challenged the traditional bricks-and-mortar travel agency revenue model, which typically has high commission rates and service fees. Online-only booking facilities such as Expedia have become more popular over the past five years, placing downward pressure on commission rates. In response, major players have introduced their own online platforms or acquired existing online firms. Other online platforms, including metasearch websites, have also been a strong source of competition. These sites allow consumers to compare prices... Learn More

3. Online Travel Bookings in Australia

2022-2023 Revenue Growth: 84.5%

The COVID-19 pandemic has significantly affected the Online Travel Bookings industry. Over the three years through 2021-22, federal and state governments imposed heavy restrictions on interstate and international travel, and the largest cities were put under prolonged city-wide lockdowns. Demand for international travel services from domestic and international tourists plummeted over this period. To generate revenue, online travel booking firms were forced to rely on a domestic tourist market that state border closures intermittently disrupted. Consequently, firms across the industry, including major players such as Expedia Australia Pty Limited, have experienced sharp drops in demand, revenue and profitability. Overall, industry... Learn More

4. Liquefied Natural Gas Production in Australia

2022-2023 Revenue Growth: 82.9%

The Liquefied Natural Gas Production industry has rapidly expanded over the past five years, as project development has increased the scale and production capacity of the industry. Australian liquefied natural gas (LNG) exports have increased from 20.0 million tonnes in 2010-11 to an expected 81.9 million tonnes in 2021-22. Industry revenue is expected to grow at an annualised 17.6% over the five years through 2021-22, to $55.7 billion.

The wave of project development that occurred across the industry over the past decade has now concluded. Ten LNG facilities are operational in 2021-22, including the Prelude and Ichthys projects, which shipped their... Learn More

5. International Airlines in Australia

2022-2023 Revenue Growth: 78.4%

Airlines from different countries operate in the International Airlines industry. While many airlines, such as Emirates and Singapore Airlines, have a significant market presence in Australia, few foreign airlines have local incorporated subsidiaries. As a result, any airline that flies passengers or freight to or from Australia is included in the industry.

Industry players have faced volatile operating conditions over the past five years. Passenger volumes to and from Australia grew strongly over the two years through 2018-19, mostly due to increased tourism from countries in the Asia-Pacific region and the United States. However, restrictions on international air travel due to... Learn More

6. Cotton Ginning in Australia

2022-2023 Revenue Growth: 71.6%

The Cotton Ginning industry is an important part of the agricultural support services sector and the national cotton sector. Raw cotton must be processed into lint and seeds by a cotton gin before either product can be used. The industry's performance is closely linked to the Cotton Growing industry. A range of factors also indirectly affect the industry, such as climatic conditions, water supply regulation, cotton stockpiling, and fluctuations in global cotton consumption and production. Typically, cotton is harvested and ginned towards the end of the financial year, with any surplus production carried into the following year. Higher cotton production... Learn More

7. Cinemas in Australia

2022-2023 Revenue Growth: 69.6%

Operators in the Cinemas industry have faced significant challenges over the past five years. Intensifying competition from other sources of entertainment, such as SVOD services, has negatively affected industry demand. In addition, volatile economic conditions have made it difficult for cinema operators to boost patronage and average spend. In response, industry firms have tried to differentiate the cinema experience from other forms of entertainment. Operators have upgraded projection systems to the latest technology and renovated their cinemas to include more premium offerings, such as recliner seats and gourmet food and beverage options. However, public health measures implemented in response to... Learn More

8. Lithium and Other Non-Metallic Mineral Mining in Australia

2022-2023 Revenue Growth: 68.2%

The Lithium and Other Non-Metallic Mineral Mining industry's major products are spodumene concentrate (lithium ore), phosphate minerals and salt. Spodumene concentrate is mainly exported to China for further processing, while a large proportion of the salt produced by industry operators is exported to chemical product manufacturing plants in Asia. Spodumene concentrate output has increased over the past five years, in response to higher demand from export markets. This increase includes an expected surge in 2021-22, due to greater production volumes and prices. Despite lower production volumes compared with other major salt-producing countries, Australia is the world's leading exporter of salt... Learn More

9. Airport Operations in Australia

2022-2023 Revenue Growth: 67.9%

The Airport Operations industry features several dominant players, with most aircraft movements going through Australia's major airports such as Sydney, Melbourne and Brisbane. Airport operators generate revenue by charging landing and terminal fees to domestic and international airlines. Airports also receive rental income from airlines and retail stores for space leased on their premises. Airservices Australia, the industry authority that controls Australian airspace, earns revenue mostly on a per-aircraft basis. As a result, the volume of aircraft movements and passengers carried strongly correlate with industry growth.

Over the two years through 2018-19, rising inbound tourist numbers and strong growth in outbound... Learn More

10. Wool Wholesaling in Australia

2022-2023 Revenue Growth: 63.0%

Operators in the Wool Wholesaling industry purchase wool products in bulk from wool producers to sell on to downstream markets. The industry has faced difficult trading conditions over the past five years. Declines in wool production over the period, caused by adverse sheep farming conditions, have reduced the volume of wool for wholesale. Moreover, dampened global demand for industry products due to the COVID-19 pandemic's economic effects has reduced domestic wool prices. As a result, profit margins for industry operators have also decreased over the period. Overall, industry revenue is expected to fall at an annualised 4.7% over the five... Learn More