Tourism and leisure take on mining | The Insight Files | Scoop.it

As one boom ends, those in the know are pinning tourism and leisure as the next big Australian money maker. According to the Australian Financial Review, funds managers lamenting the end of the mining surge are keeping their eyes peeled for new growth areas, and targeting a small group of ASX-listed stocks likely to benefit from a low AUD, and a rise in inbound travellers. There are more tourists heading down under, especially from the likes of China, while a bigger number of keen Australian travellers are staying local out of concerns over the shaky dollar. According to Sydney Airport's most recent annual report, there has been a 16.4% jump in visitors from China for 2014, and almost 12% rise from US holidaymakers and an 11.6% jump in Malaysian jetsetters. Recent initiatives announced by the Australian Government also back this trend, including the Minister for Trade and Investment's push to boost airline services between Australia's major gateway cities and Chinese cities like Beijing, Shanghai and Guangzhou.