Deloitte report says spending by tourists boosts Qld retail sector

THE rising number of cashed-up Chinese tourists has helped boost Queensland’s retail spending growth above the national average.

Chinese tourists Liu Weihong and Zhao Weiguo on the Gold Coast. Pic: Glenn Hampson

THE rising number of cashed-up Chinese tourists has helped boost Queensland’s retail spending growth above the national average.

A Deloitte Access Economics forecast released Friday names 2017 the “Year of the Tourist” as overseas visitors splurge on souvenirs, cosmetics, luxury items, clothing and pharmaceuticals.

Deloitte Access Economics partner David Rumbens said an explosion of international tourism led by China was giving the retail sector around the country a boost.

Mr Rumbens said as tourist numbers reached record levels, retail spending in Queensland had grown 2.2 per cent last year, compared to the 2 per cent national average.

“Tourism in Queensland is a big driver of retail spending and jobs growth,” Mr Rumbens said. “The Chinese were among the biggest spenders.”

Spending by domestic and international tourists totalled $130 billion in 2015-2016, with non-food retail spending accounting for $15.6 billion.

He said Chinese tourists had spent about $1.4 billion in shops around the country and that figure was expected to quadruple over the next decade.

“International tourism is luring international brands into the Australian retail market,” Mr Rumbens said, adding that 39 of the top 250 global retailers were now in Australia.

Star Entertainment is factoring in the shopping habits of Chinese tourists as part of its multi-billion dollar Queen’s Wharf integrated development in Brisbane’s CBD.

A Star Entertainment spokesman said yesterday that the retail component of Queen’s Wharf would include several brands new to Australia that would be aimed at Asian tourists.

“These are brands, mainly in the fashion area, that will resonate with Asian visitors,” he said.

Chinese tourists are expected to overtake New Zealand visitors as the number one inbound market for Australia this year, with 1.3 million mainland visitors expected.

Chinese tourists are tipped to double to two million in the next decade, bringing with them billions of dollars in investment in Queensland hotels and resorts.

Deloitte Access Economics said that while the mining downturn had hit states like Queensland and Western Australia, other economic opportunities in areas like tourism were emerging.