Damon Mcknight
Australia's national currency is the Australian dollar, denoted by the symbols AUD, A$, or $. The Australian dollar is also legal tender in the independent Pacific Island states of Kiribati, Nauru, and Tuvalu. In 2023, Australian households spent a total of $1.3 trillion on general living costs, with the average household spending $2546 per week. The biggest expenses for Australians are rent and dwelling costs, followed by recreation and culture, food, and spending on hotels, cafes, and restaurants. When it comes to tourism, the cost of visiting Australia varies depending on one's plans and preferences, with accommodation, food, transportation, and sightseeing being significant factors.
| Characteristics | Values |
|---|---|
| Currency | Australian Dollar (AUD) |
| Currency Symbol | \(, A\), AUD |
| Currency Type | Decimal currency |
| Conversion Rate | 1 Australian Pound = 2 AUD |
| Coins | 5, 10, 20, 50 cents, 1 and 2 AUD |
| Notes | 5, 10, 20, 50, and 100 AUD |
| Average Household Spending (2023) | $132,372 per year ($2546 per week) |
| Largest Expense | Rent and dwelling costs ($536 per week) |
| Second-Largest Expense | Recreation and culture ($257 per week) |
| Average Weekly Spend for Households Over 65 | $900 |
| Average Alcohol Spend (Under 35) | Lowest among all age groups |
| Average Bill Stress | 44% of Australians feel stressed about electricity bills |
| Preferred Payment Methods for Tourists | Cards and ATM withdrawals |
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What You'll Learn
Budgeting for tourists
Australia is not known as a budget destination, and the cost of your trip will depend on the exchange rate of the Australian dollar with your home currency. However, with careful planning, it is possible to keep costs reasonable.
Accommodation
Accommodation is usually one of the biggest costs when travelling. In Australia, you can find boutique hotels for around AUD$250 per night, while a dormitory bed in a hostel can cost as little as AUD$20. If you're looking for something more private, a private room in a hostel typically ranges from AUD$80 to AUD$85.
Food
Food costs can vary significantly depending on where you eat. Eating out can be expensive, but there are cheap eats to be found in any major city, including Thai food in Adelaide and pub meals in Canberra. Many restaurants offer BYO options, so you can save money by bringing your own bottle of wine.
Transport
To get around Australia, consider using budget airlines like Bonza and Jetstar, which offer cheap fares, especially for early morning or late evening flights. For ground transportation, train and bus travel are affordable options for travelling between cities and towns. Within major cities, look for free or cheap bike rental programs.
Sightseeing
Australia has plenty of free attractions and activities to enjoy. The country's beautiful beaches are free to visit, and many have lifeguards during the summer months (December to February). You can also find free walking tours in most major cities and numerous walking and coastal trails. Art lovers can take advantage of free entry to outdoor galleries and permanent exhibitions at major art galleries. Additionally, festivals and events like the Adelaide Fringe Festival, Vivid Sydney, and Floriade in Canberra offer free entertainment, including live music, comedy, and theatre performances.
Other Tips
- Australia's peak tourist season is during the southern hemisphere's summer (December to February), so prices tend to be higher during this period. Consider visiting outside of this timeframe if you can.
- Tipping is not obligatory in Australia, and service charges are typically only added to bills for large groups.
- Take advantage of free Wi-Fi in public spaces such as museums, shopping centres, train stations, cafes, and restaurants.
- If you plan to exchange currency, consider using a service like Wise Multi-Currency Card or Revolut, which offer favourable exchange rates and low or no fees.
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Australian household spending
Household or consumer spending is the largest component of the Australian economy, accounting for around 50% of its performance. This makes it a critical area of focus for businesses, governments, and major policy-setting institutions like the Reserve Bank of Australia.
Australian government statistics reveal that individuals under 35 spend the majority of their income on housing, followed by food and non-alcoholic drinks. Interestingly, this demographic group has a lower average weekly spend on recreational activities and alcohol than other age ranges.
The average weekly spend for households with individuals aged 65 and over is just under $900. Their expenses are generally lower, as costs related to transport decrease with age. The proportion of their spending on food and beverages, as well as domestic fuel and power, remains consistent with other age groups.
In March 2025, the Australian Bureau of Statistics reported that spending on health services, rail and road transport, and motor vehicle repair and maintenance decreased, while spending on food increased. The Northern Territory, Western Australia, and South Australia saw the strongest increases in household spending, while the Australian Capital Territory and Victoria experienced decreases.
The Australian dollar (AUD) is the official currency used in Australia, and it is also legal tender in the independent states of Kiribati, Nauru, and Tuvalu. It was introduced in 1966 to replace the non-decimal Australian pound, with a conversion rate of two dollars to the pound. The $ symbol precedes the amount, and Australian currency is subdivided into 100 cents.
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Cost of visiting Australia
The cost of visiting Australia depends on your travel style, speed, and other variables. The Australian dollar (AUD) is the official currency of Australia. While Australia is not an inexpensive country to visit, it is considered “moderately priced” compared to other countries in the Pacific region.
Accommodation
Accommodation is usually one of the biggest costs when travelling. The price you pay depends on the type of accommodation you choose. For example, hostels in Sydney, Melbourne, and Perth provide budget accommodation, while luxury hotels cater to upscale travellers, and mid-range hotels are ideal for families or couples. You can also find budget-friendly accommodation options such as Couchsurfing, which is free, or housesitting, which is aimed at mid-range and luxury travellers. A dorm bed in a hostel typically costs around $50 to $60 AUD per night, while a private double room in a hostel costs around $160 AUD per night.
Food
The cost of food in Australia can vary significantly depending on where you purchase your meals. Eating at less expensive restaurants can help keep your spending in check.
Transportation
Transportation costs can add up, especially if you plan to visit multiple places. Public transportation in Australia is generally affordable, clean, convenient, and safe to use. It costs around $2 AUD per trip, compared to $20-$30 AUD for a taxi or rideshare for a similar journey. Taking the bus or flying between destinations is usually cheaper than taking the train. For example, a three-day trip on the famous Ghan train between Adelaide and Darwin costs $3000 AUD per person. However, train travel within the state of Victoria is very affordable, with a maximum fare of $9.20 AUD regardless of the distance travelled.
Sightseeing
There are many free attractions in Australia, such as museums and galleries, which offer free entry on certain days or for permanent collections. Multi-attraction tickets and family deals can also help save money.
On average, you should plan to spend around $169 USD (263 AUD) per day on your vacation in Australia. A one-week trip for two people costs, on average, $2,363 USD (3,682 AUD). A one-month trip for one person costs around $5,063 USD (7,890 AUD), while a couple can expect to spend $10,126 USD (15,780 AUD) for the same duration.
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Australian currency
The official currency of Australia is the Australian dollar, denoted as $, A$, AUD, or sometimes AU$. It is subdivided into 100 cents. The $ symbol precedes the amount. The Australian dollar was introduced as a decimal currency on 14 February 1966, replacing the non-decimal Australian pound. It is the sixth most-traded currency in the foreign exchange market.
Australian notes and coins are also legal tender in the independent sovereign states of Kiribati, Nauru, and Tuvalu. In these countries, the Australian dollar is the dominant currency.
The Australian dollar is widely available due to its status as one of the most globally traded currencies. Australian dollars can be bought at banks, bureaux de change, international airports, and hotels, although buying them at these locations may be expensive. It is also possible to withdraw Australian dollars from ATMs in Australia, which is the preferred choice for many travellers.
The average Australian household spent $132,372 in 2023, equivalent to $2546 per week. The largest expenses were rent and dwelling costs, recreation and culture, food, and spending on hotels, cafes, and restaurants.
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Australian spending habits
Australians are currently pessimistic about their economy and personal finances, and many are making changes to their spending habits. They are spending more on necessities such as housing, insurance, and groceries, and about the same or less on discretionary items such as clothing.
Research from Monash University's Australian Consumer and Retail Studies (ACRS) found that more than half of Australian shoppers believe that essential categories, including housing, groceries, and insurance, are unfairly priced. This has resulted in Australians spending more across these essential categories, contributing to pessimism about the cost of living.
In response to rising living costs, Australians are changing their buying behaviours. While they are cutting back on excess spending, they are not eliminating non-essential purchases entirely. For example, while some are reducing their alcohol consumption, many still budget for non-essentials. There is also a growing trend of buying second-hand clothes and selling pre-owned items.
The increase in food inflation has influenced Australians to turn to cheaper grocery stores like 7-Eleven and Aldi. However, traditional giants like Coles and Woolworths remain trusted brands, benefiting from pricing wars. Banks and governments still influence spending habits, and interest rate freezes may encourage more spending and greater economic confidence.
Australian government statistics reveal that individuals under 35 spend the majority of their income on housing, followed by food and non-alcoholic drinks. This demographic has a lower average weekly spend on recreational activities and alcohol compared to other age groups.
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Frequently asked questions
The Australian dollar (AUD) is the official currency used in Australia.
The Australian dollar comes in denominations of $5, $10, $20, $50, and $100 notes. Coins come in 5, 10, 20, and 50 cents, along with one and two dollar denominations.
The cost of visiting Australia varies depending on your plans and budget. The official currency is the Australian Dollar (AUD), so you'll need to carry this currency with you. Major cards are widely accepted in Australia, and many travellers prefer to rely on cards and ATM withdrawals.
