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Minister of Trade and Investment highlights potential for tourism

In his Ministerial Statement to Parliament, Hon. Andrew Robb announced major tourism prospects for Australia.

In his Ministerial Statement to Parliament, Hon. Andrew Robb announced major tourism prospects for Australia.

The Minister for Trade and Investment, the Hon. Andrew Robb AO MP, yesterday made the inaugural annual Ministerial Statement to Parliament on Investment.
In his address, the Minister highlighted the crucial role foreign investment plays in supporting our nation’s key drivers of growth and the importance of investment in tourism infrastructure, one of the government’s identified National Investment Priorities, to realise our potential in the tourism market.

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“Tourism will be a major driver of growth,” Minister Robb said.
”By 2020, almost 200 million Chinese tourists are expected to travel internationally, a doubling of current numbers.”
The Minister also reiterated that Australia was well placed to capitalise on the rising demand of Australia’s tourism sector.

“But we need significant investment in tourism infrastructure if we are to realise our potential in that market,” he said.

While the Minister stressed the importance of further investment, funds are already starting to flow.
“There are reports of $20 billion in prospective investment in high-quality Australian tourism infrastructure, which includes five star integrated resorts near Cairns, in Brisbane and also on the Gold Coast,” he said.
Hong Kong-listed, Far East Consortium International was also recently announced as the successful bidder for the Elizabeth Quay Lot 9 & 10 project in Western Australia.”

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The construction, valued at more than $350 million, is said to provide more than 1000 jobs.

What do you think? Does Australia need further investment in its tourism infrastructure?