The number of Chinese and Hong Kong tourists to Australia has hit a record high of 1,002,500 a year.
This is up 14.1% on a year ago, according to Australian Bureau of Statistics August numbers released today.
CommSec economist Savanth Sebastian says China will surpass New Zealand as Australia’s primary source of tourists in around five years’ time if the current growth rates keep up.
New Zealanders totalled 1,227,600 in the year to August, up 3.4%.
“But the growth rates are even more staggering when Hong Kong is added into the mix,” Sebastian says. “For the first time in Australia’s history combined tourists from China and Hong Kong surpassed 1 million over the past year. Effectively trebling in the past decade and currently growth at 14% per annum.”
The other important development is that overall tourist arrivals are growing just under of the fastest pace in 14 years.
“Looking forward, not only will the fall in the Aussie dollar drive further tourism inflows, but it should provide an additional degree of support to the domestic tourism sector,” Sebastian says.
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