home Travel The Growth of the Car Rental Industry in Australia

The Growth of the Car Rental Industry in Australia

Despite the mixed economic and business conditions within the country, the car rental industry has registered steady growth for the past five years. Just last year, the rental industry increased by 4% in current value terms, which was an improvement compared to the 1% increase in 2014. Moreover, the total number of rental transactions also increased in 2015 by 2%, which represented a recovery when compared with a decline of 5% in 2014. Many local businesses that offer car rentals benefited significantly due to the influx of international tourists as well as local Australians travelling from one city to another.

There has been positive business confidence for the best part of five years, which has allowed businesses to invest more into improving their infrastructure and offering a better standard of service. The increase in corporate activity has also made a difference. Many rental companies now offer luxury cars, airport transfers, and tailored plans for corporate individuals.

Another major reason for the increase in the number of cars in Australia is the increased amount of travel. Every year, millions of tourists visit this beautiful country. Many of them want to take a road trip through the country, which is one of the main reasons why campervan hire in Australia is so popular. A campervan is a slightly larger vehicle that allows for more comfortable travelling. It can easily accommodate around three to four people and also offers significantly improved fuel efficiency.

Tourism and Luxury Categories

This market has grown dramatically in the past decade. Many companies now exclusively deal in luxury cars or campervans, which has allowed local businesses to flourish as well. A number of small businesses have popped up all over the country, making it easy for people to rent different kinds of vehicles. The increased number of businesses has allowed for increased competition within the industry. The increased amount of competition is actually good for the country, since it forces businesses to lower prices and improve their practices. The tourism and luxury divisions in the rental industry have further increased the overall demand in the car rental industry.

Places to Visit

One of the biggest reasons why Australia has become such an excellent destination for travellers is because of the number of places that you can visit. Australia is one of the most beautiful countries on earth. Places such as the Great Ocean Road, the Twelve Apostles, and the Grampians National Park are perfect for people who want to go exploring the country by themselves. Other places like the Kakadu National Park, the Barossa Valley and The Rocks are also very popular destinations for travellers.

As awareness has increased about the many different places in Australia, the number of tourists in the country has also increased significantly. The increase in overall tourism across Australia is one of the main reasons why the car rental industry has grown so well recently. Today, there are hundreds of companies that offer car rentals across the country.