You might have to spend a bit more time on the holiday shopping list this year, but the Australian Bureau of Statistics says it will be the best shopping season of the year.
Key points: You’ll need to spend more time with your family, with the best of both worlds The Bureau says Australians spend more on holiday shopping than anywhere else in the world The average price of a holiday ticket in Australia has gone up by more than 7 per cent from last year, the biggest jump in five years.
“We expect holiday shoppers to spend an average of $15,000 in 2018 on travel, accommodation, entertainment and entertainment,” the bureau said.
“While there will be a big drop in holiday prices over the festive period, they will remain relatively competitive with other major countries, particularly the United States, the United Kingdom, and Japan.”
With the exception of Japan, the major holiday destinations that are the most popular destinations for travel this year will be Australia, New Zealand, the European Union, the Commonwealth, Japan, and Singapore.
“In 2017, Australia’s average ticket price was $13,000, up from $10,000 last year.
But it’s not all good news for holiday shoppers.
Australians spent $6.3 billion more than they did in 2016 on food and drink, up by $1.6 billion from $4.7 billion.
And they spent $3.5 billion more on alcohol than they spent in 2016.
The bureau also reported that Australians were spending $3 billion on holidays and entertainment over the Christmas period, compared to $2.6bn in 2016, a 3.5 per cent increase.”
The number of Australians going to holiday destinations this year is likely to be the highest on record, with a record number of holidaymakers planning to travel,” the department said.
In the meantime, the bureau warns that Australia’s economy will slow to a crawl by the middle of 2019.