Published on : Friday, March 17, 2017
A new report suggests that the increase in the influx of Chinese visitors to Australia has had a huge positive impact on local retailers. Tourist retail spending from Chinese visitors accounts for 1.05 billion U.S. dollars, according to the Deloitte Access Economics Retail Forecasts report.
Lead author of the report, Deloitte Access Economics partner David Rumbens told Xinhua that the number is set to increase by four times in the next decade.
“International tourism accounted for 15 percent of the growth in retail spending last year, and Chinese tourism is the biggest individual component of that international sector,” Rumbens said.
With the China-Australia Year of Tourism well underway in 2017, Rumbens said retailers are doing well to cater for Chinese tourists, but could be doing more to provide them with better services.
“The data shows that Chinese tourists are already spending quite a lot in Australia, the retailers are extracting the money, but retailers could offer greater service,” Rumbens said.
The report says there are other benefits to tourism, with increased competition being created, which in turn provides better outcomes for not only the tourists, but locals as well.
Record numbers of Chinese tourists visited Australia in 2016, with figures from the Australian Bureau of Statistics (ABS) pegging the number at 1.2 million tourists. The number is likely to rise in the near future.