Growing number of Chinese tourists a boon for Australian retailers: report
Source: Xinhua   2017-03-10 12:02:40

SYDNEY, March 10 (Xinhua) -- The rapid increase in the number of Chinese visitors to Australia has had a huge positive impact on local retailers, according to a new report released on Friday.

According to the Deloitte Access Economics Retail Forecasts report, tourist retail spending from Chinese visitors accounts for 1.05 billion U.S. dollars.

Lead author of the report, Deloitte Access Economics partner David Rumbens told Xinhua that the number is set to increase by four times in the next decade.

"Chinese tourism is a significant contributor to the sector," Rumbens said.

"International tourism accounted for 15 percent of the growth in retail spending last year, and Chinese tourism is the biggest individual component of that international sector."

The report says there are other benefits to the tourism, with increased competition being created, which in turn provides better outcomes for not only the tourists, but locals as well.

Record numbers of Chinese tourists visited Australia in 2016, with figures from the Australian Bureau of Statistics (ABS) pegging the number at 1.2 million tourists. The number is likely to rise in the near future.

With the China-Australia Year of Tourism well underway in 2017, Rumbens said retailers are doing well to cater for Chinese tourists, but could be doing more to provide them with better services.

"The data shows that Chinese tourists are already spending quite a lot in Australia, the retailers are extracting the money, but retailers could offer greater service," Rumbens said.

"Not to extract more money, but as a means of providing greater benefit to the visitors and providing greater encouragement to visit Australia again."

Rumbens said retail sales growth was up last year by 2 percent, adding that the rising number of visitors, particularly from China, will play a big part in continued growth.

"We expect a steady improvement in retail sales through 2017 which is forecast to grow by 2.4 percent for the year to December 2017, then by 2.7 percent over 2018," Rumbens said.

Editor: Zhang Dongmiao
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Growing number of Chinese tourists a boon for Australian retailers: report

Source: Xinhua 2017-03-10 12:02:40
[Editor: huaxia]

SYDNEY, March 10 (Xinhua) -- The rapid increase in the number of Chinese visitors to Australia has had a huge positive impact on local retailers, according to a new report released on Friday.

According to the Deloitte Access Economics Retail Forecasts report, tourist retail spending from Chinese visitors accounts for 1.05 billion U.S. dollars.

Lead author of the report, Deloitte Access Economics partner David Rumbens told Xinhua that the number is set to increase by four times in the next decade.

"Chinese tourism is a significant contributor to the sector," Rumbens said.

"International tourism accounted for 15 percent of the growth in retail spending last year, and Chinese tourism is the biggest individual component of that international sector."

The report says there are other benefits to the tourism, with increased competition being created, which in turn provides better outcomes for not only the tourists, but locals as well.

Record numbers of Chinese tourists visited Australia in 2016, with figures from the Australian Bureau of Statistics (ABS) pegging the number at 1.2 million tourists. The number is likely to rise in the near future.

With the China-Australia Year of Tourism well underway in 2017, Rumbens said retailers are doing well to cater for Chinese tourists, but could be doing more to provide them with better services.

"The data shows that Chinese tourists are already spending quite a lot in Australia, the retailers are extracting the money, but retailers could offer greater service," Rumbens said.

"Not to extract more money, but as a means of providing greater benefit to the visitors and providing greater encouragement to visit Australia again."

Rumbens said retail sales growth was up last year by 2 percent, adding that the rising number of visitors, particularly from China, will play a big part in continued growth.

"We expect a steady improvement in retail sales through 2017 which is forecast to grow by 2.4 percent for the year to December 2017, then by 2.7 percent over 2018," Rumbens said.

[Editor: huaxia]
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