It certainly has been an eventful week for the Australian Bureau of Statistics. The latest piece of data to come out of the department this morning was related to tourism.
That data revealed that the tourism boom has continued in September with inbound visitor numbers rising 6.7% over the prior corresponding period to 752,500.
The biggest driver of this growth was once again arrivals from the Chinese mainland. Australia welcomed 123,000 visitors from China during September, up a massive 26% over the prior corresponding period.
Three shares which I think could benefit from the ongoing tourism boom are as follows:
Apollo Tourism & Leisure Ltd (ASX: ATL)
As well as benefitting from Australia's ageing population as a result of the cashed-up "grey nomad" market, I think Apollo Tourism & Leisure is likely to be a big winner from the tourism boom. Not all tourists want to stay in the Sydney CBD, some want to get out on the roads and travel from coast to coast. As a leading retailer and rental fleet operator of recreational vehicles, I expect Apollo will see demand for its vehicles increase strongly over the coming years.
Star Entertainment Group Ltd (ASX: SGR)
With more and more tourists flocking to Australia, I believe demand for accommodation will increase greatly. This could lead to higher occupancy levels and room rates for accommodation providers such as Star Entertainment. Furthermore, Chinese tourists have a reputation for enjoying a gamble. As tourists from the country are now the largest tourist group visiting Australia, casino operators could see traffic on their floors grow significantly. While I would pick Star ahead of it, rival Crown Resorts Ltd (ASX: CWN) could also be worth a closer look for the same reasons.
