Chinese tourism lucrative, but Australia faces tough competition | The Insight Files | Scoop.it

The latest Tourism Investment Monitor by the economics division of the Commonwealth Bank, released this week, shows that tourism accounted for 2.7% of Australia's GDP in 2013-14, a business worth more than $43 billion. This made it larger than our agricultural sector as a percentage of GDP, Australia's third-largest export and our largest services export. It is estimated that the tourism investment pipeline in Australia grew by 8.7% last year to $54 billion. James Packer's new casino at Sydney's Barangaroo and the new Echo casino just announced in Brisbane are being built with the Asian tourist as a key market. The CBA paper points out how the falling Australian dollar is now feeding through into the tourism industry. Find out more.