Tourism in 2019 made up 3.1% of Australia’s GDP and there were 9.4 million international visitors, Bangkok had nearly 23 million. To some extent, international arrivals have been replaced by domestic tourists unable to travel overseas however they don’t spend as much money or stay as long. With Australia being a long way from anywhere and relatively expensive to get to, those who visit tend to be higher yielding tourists.
Undoubtedly, COVID is many times worse than the pilots strike of 1989, however Australia is a relatively wealthy country with a high degree of self sufficiency and is better placed to isolate itself. Places such as Phuket and Bali are totally dependent on international visitors and the effects have been devastating. Businesses and hotels have been closing down en mass and the streets are like a ghost town. There are few replacement jobs available for those affected, and they were living close to the breadline anyway. Thailand and Indonesia can’t afford a comprehensive welfare system and the situation is dire.
Australia will probably be one of the last places to open up.