160305 Turnbull Innovation and Chinese Characters

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160305 Turnbull Innovation and Chinese Characters

Three months on from the innovation revolution announcement, there has been little movement on ideas in other sectors. The lack of big ideas in other areas is leading me to wonder if this is just another basket, or nice little progressive policy for the government to take to the election and then pray for commodity prices to rise.

One industry that doesn’t get the respect it deserves is Australia’s booming tourism industry. On the back China’s economic growth and growing middle class, one million Chinese tourists visited Australia in 2015, injecting almost eight billion dollars into Australia’s economy. The Tourism 2020 Strategy estimates that Chinese tourism has the potential to be worth up to $13 billion by 2020.

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