Australians have 140 million days’ worth of accrued annual leave, and taking it could be the key to boosting Australia’s flagging economy.
New research from Roy Morgan found more than a quarter of Australia’s 10.9 million paid workers have four weeks or more worth of annual leave. Within that, 13.2 per cent have more than five weeks.
If Australians were to take their leave, this could deliver a significant boost to the economy, Roy Morgan CEO Michele Levine said.
Australian workers accrued leave
“With the Australian economy showing signs of slowing, the potential boost that would come from people taking their accrued leave would be considerable. This would particularly be the case if Australians were encouraged to holiday in Australia,” she said.
“Particularly with Australia’s 10.9 million paid workforce currently owed an average of more than 12 days’ annual leave, this not only would be good for them to have some relaxation but could also boost the economy.”
Sydney, Hobart and Melbourne all hold winter festivals and events to encourage international and domestic tourists and residents to make the most of the colder months and continue to travel.
The Reserve Bank of Australia earlier this month reduced the official cash rate to just 1.25 per cent, indicating an economy in need of stimulus.
And over the March quarter, the Australian economy grew 0.4 per cent - its slowest rate since the September 2009 quarter at the end of the GFC.
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