Concerns about China's growing influence come as the Australia China Business Council released research showing the number of Chinese tourists visiting Australia is set to more than triple to 3.3 million per year by 2026.
The report, conducted with LEK Consulting and Trade Victoria, observed that more than a million Chinese tourists visited Australia last year and spent $9.2 billion, underscoring the deepening economic and trade relationship.
However, Australia's ability to handle the projected Chinese tourist boom has been highlighted as a concern, with a China Readiness Score reading only 65 out of 100.
John Brumby pointed to recommendations urging better Mandarin signage, improved transport and the availability of Chinese payment options like Alipay.
Mr Brumby said Australia's accommodation sector is particularly under pressure from the expected boom in Chinese tourist numbers,
"We're not really ready. We've had issues with Chinese new year when you get 150,000 or 200,000 tourists and the hotels struggle," Mr Brumby said.
"So if they're [hotels] are struggling now they're really going to struggle with 3.3 million visitors."
The rise of Chinese tourism is also likely to overtake the importance of Australian exports of iron ore to China, according to Mr Brumby.
------------------------------------------------------------------------------------------------------------- This post is based on my own research and is not investment advice. When making investment decisions, always DYOR.
