This report analyses average weekly gross earnings for all workers over 15 years of age, in all industries across Australia. Income in this report is defined as current and regular cash payments and excludes amounts that are salary sacrificed like the value of cars, laptops, phones, employer-provided childcare and employer superannuation contributions. The data for this report is sourced from the Australian Bureau of Statistics and is measured in seasonally adjusted current dollars per financial year.

The industry has experienced significant changes over the past five years. The pandemic led to a significant decline in profitability in 2019-20 and 2021-22, driven by lower tourism numbers and limited visitor capacity. However, a resurgence in late 2021-22 and 2022-23 led to a swift recovery, with pent-up demand and strong household savings supporting increased revenue and expanding profit margins. However, the industry’s performance has been muted in 2023-24 and 2024-25, with a decline in revenue due to a slowed growth in demand, even though tourism numbers have continued to improve. Tightened household budgets have led to a decrease in discretionary spending on leisure and entertainment, causing smaller entertainment venues to struggle. Over the past five years, industry revenue is anticipated to have grown at an annualised 1.7%. Nevertheless, revenue is expected to remain stable at $2.5 billion in 2024-25. Improving profit margins have lured new entrants to the market, driving employment growth though wage costs per employee have fallen. Several new investments have also brought optimism to the industry, including Village Roadshow’s Warner Bros. Movie World investing $100.0 million in a new Wizard of Oz precinct and TEEG opening several new Timezone and Zone Bowling establishments. Despite the recent challenges, these investments and a potential rise in household discretionary incomes in late 2024-25 and 2025-26 indicate a promising outlook for the industry. Continual growth in international tourist numbers and easing financial pressures on domestic households will likely spur increased industry patronage over the medium term. While tourist number growth is forecast to slow, a continual steady influx will give momentum to the industry's profitability, particularly in popular destinations. Over the long run, significant changes in the industry's structure are unlikely. With high barriers to entry, especially in the amusement parks segment, players like Village Roadshow and TEEG will likely remain dominant for the foreseeable future. The potential for these major companies to make future acquisitions could further consolidate their market position. New entrants, mainly small enterprises, are likely to stimulate job growth and drive up average wages per employee. Overall, industry revenue is projected to grow at an annualised 2.3% through the end of 2029-30, reaching $2.8 billion.

Portugal, Canada, and the United States were the countries with the highest house price to income ratio in 2024. In all three countries, the index exceeded 130 index points, while the average for all OECD countries stood at 116.2 index points. The index measures the development of housing affordability and is calculated by dividing nominal house price by nominal disposable income per head, with 2015 set as a base year when the index amounted to 100. An index value of 120, for example, would mean that house price growth has outpaced income growth by 20 percent since 2015. How have house prices worldwide changed since the COVID-19 pandemic? House prices started to rise gradually after the global financial crisis (2007–2008), but this trend accelerated with the pandemic. The countries with advanced economies, which usually have mature housing markets, experienced stronger growth than countries with emerging economies. Real house price growth (accounting for inflation) peaked in 2022 and has since lost some of the gain. Although, many countries experienced a decline in house prices, the global house price index shows that property prices in 2023 were still substantially higher than before COVID-19. Renting vs. buying In the past, house prices have grown faster than rents. However, the home affordability has been declining notably, with a direct impact on rental prices. As people struggle to buy a property of their own, they often turn to rental accommodation. This has resulted in a growing demand for rental apartments and soaring rental prices.