Trade and Investment Minister Andrew Robb will visit Hong Kong between 13-16 October to promote investment in Australia's tourism and hospitality sector.
Mr Robb will attend the Hotel Investment Conference Asia Pacific (HICAP) and meet senior members of the international investment community.
He will also attend the launch of a new campaign in Hong Kong, Australian Sustainable Seafood, promoting premium Australian exports through some of the territory's best known restaurants and chefs.
"Tourism plays a vital role in our national economy; it's our largest services export industry, it supports jobs for a million people and it has the potential to be our fastest growing sector in the years ahead," Mr Robb said.
"We are already seeing fantastic growth, particularly from our international arrivals, and we need to ensure we have the right infrastructure in place to help meet the growing demand.
"Foreign direct investment is helping modernise and expand our supply of quality premium accommodation and tourist experiences, and the Turnbull Government is working to support that."
Tourist arrivals from China grew 21 per cent to almost one million in the year to August, while those from India were up by 19 per cent to over 224,000. United States arrivals grew by 9 per cent to over 580,000, with the lower Australian dollar increasing the competitiveness of our tourism and hospitality sectors.
Within five years it is forecast that Chinese inbound tourism alone could be worth up to $8.5 billion to the Australian economy annually, helping achieve the goal of $140 billion in total overnight tourism spending under Australia's Tourism 2020 Strategy.
"Recently we’ve seen significant interest from major investors such as China’s Dalian Wanda group, which has committed to two projects in Sydney and the Gold Coast worth more than $2 billion," Mr Robb said.
"Our successful negotiation of the Trans Pacific Partnership Agreement and Australia's three bilateral trade agreements with Japan, Korea and China will provide further support to our tourism industry and investment environment.
"These transformative agreements will also provide a significant boost to premium food and wine exports which, in themselves, are another great advertisement for our unique tourism experiences."
- Trade Minister's Office: (02) 6277 7420
- DFAT Media Liaison: (02) 6261 1555