Prime Minister Scott Morrison has announced Australia’s international borders will be reopened to fully vaccinated visa holders from 21 February.
“Australia’s health system has demonstrated its resilience throughout the COVID-19 pandemic, including through the recent Omicron wave,” the PM said in a statement on Monday.
“With improving health conditions, including a recent 23 per cent decline in hospitalisations due to COVID, the National Security Committee of Cabinet today agreed Australia is ready to further progress the staged reopening of our international border.”
Commenting on the welcome announcement, Forager Funds Management senior analyst Alex Shevelev said a range of ASX-listed companies were well positioned to benefit from the border reopening, including adventure tourism company Experience Co and recreational vehicle company Apollo Tourism.
"This move continues the reopening of Australian borders to the world,” Mr Shevelev said.
“Tourism operators, large and small, will now have more confidence to begin preparing for international arrivals.
“While the recovery will be gradual, the industry will be hoping that the initial trickle of tourists will be followed by a torrent of arrivals. Importantly, many operators have lowered their cost bases and will be more profitable when arrivals approach pre-COVID levels,” Mr Shevelev noted.
According to PM Morrison, as of 21 February, vaccinated tourists, businesses travellers and other visitors from overseas will be allowed to enter the country, while those who are not fully vaccinated will require a valid travel exemption and will also be subject to state and territory quarantine requirements.
Mr Morrison said the reopening would give certainty to the nation’s tourism industry which generated over $60 billion for the economy in 2018-19.
Nearly 580,000 people have arrived in Australia since the government’s staged border reopening began in November last year.
Jon Bragg
Jon Bragg is a journalist for Momentum Media's Investor Daily, nestegg and ifa. He enjoys writing about a wide variety of financial topics and issues and exploring the many implications they have on all aspects of life.
