Lunar New Year rivals NYE, Easter and Christmas holidays for Sydney’s biggest tourist spendathon

Lunar New Year brings celebrations of prosperity, happiness and wealth, and now Sydney’s economy is set to reap the rewards with billions of dollars spent on food, retail and tourism.

Sydney’s Lunar New Year celebrations are set to fill both stomachs and business coffers, injecting almost two billion dollars into the local economy as international visitors and multicultural communities alike celebrate the Year of the Snake feasting with family and friends.

The Harbour City’s fortnight-long festival is one of the largest celebrations outside Asia, and is set to bring more than half a million Chinese visitors alone to our shores.

Hundreds of thousands of migrant families who have relocated to Sydney from southeast Asia will also be celebrating the Lunar New Year.

Economic modelling conducted by Business Sydney estimates local spending, on top of international tourism with exceed $90 million.

“Hospitality venues will benefit most from Lunar New Year, as celebrations centre around having special (often extravagant) meals with family and friends,” Business Sydney executive director Paul Nicolaou said.

Lion dancers at the restaurant Golden Century at Crown Sydney for Chinese New Year. Picture: Jonathan Ng

“Retailers will also benefit, especially those selling luxury gifts and Lunar New Year decorations.”

Prominent restaurateur Billy Wong told Confidential the Chinese New Year period is all about spending time with family and friends eating.

Billy Wong at his restaurant, Golden Century, at Crown Sydney with some lion dancers ahead of Chinese New Year. Picture: Jonathan Ng

“It is all about getting together,” he said.

“It is always about food, that is how we celebrate and it is always about eating, enjoying and having fun.”

Wong’s parents started the original Golden Century in Haymarket in 1989. It closed in 2021 after 32 years in business with the new-look Golden Century open now at Crown Sydney.

“Menu-wise, we have brought over the classics, the favourites we used to love, they are all here at the new Golden Century,” Wong said.

Food fare at Crown’s Golden Century. Picture: Supplied.

“Live seafood is a big part of what we do, that is why we are going to be installing a wall of fish tanks sitting in the middle of the restaurant.”

Tai Chi Grandmaster to Aussie star Chris Hemsworth Gary Khor rang in the new year at Sydney’s Capella hotel with a traditional Chinese eye dotting ceremony, an ancient tradition designed to “awaken” the lion dancers.

Hailing from a traditional Chinese family, Khor has earned a respected rank in the global Tai Chi community, particularly in China.

Tai Chi Grandmaster Gary Khor attended a traditional Lion Dance at Capella Sydney to celebrate the eve of Lunar New Year. Picture: Richard Dobson

Khor is a personal Tai Chi instructor to Australian Hollywood star Chris Hemsworth. Picture: Eric Charbonneau/Getty Images for Warner Bros.

Figures from Destination NSW previously revealed international visitation will inject a billion dollars into Sydney’s tourism industry, making the event worth nearly $2 billion.

For the next three weeks Sydney Airport will receive 97 return flights per week from mainland China, and a further 40 return flights from Hong Kong and Taiwan, bringing in more than 501,000 passengers in total.

Tai Chi Grandmaster Gary Khor with members of the Jin Wu Koon Dragon & Lion Dance Association. Picture: Richard Dobson

Chinese visitors including international students spend $196 per night in NSW on average, while Hongkongers and Taiwanese travellers spend slightly less ($161 and $74 per night respectively), figures collected by the state’s tourism agency Destination NSW show.

If each visitor stays for at least 11 days their total spend will eclipse a conservative estimate of $954.7 million.

“The volume of passengers … demonstrates Sydney’s status as Australia’s gateway to the world and our enduring appeal as a destination for Chinese travellers,” airport CEO Scott Charlton said.

Destination NSW expects visitor numbers to surge past the 352,320 short-term arrivals recorded in February 2024, after the Chinese government extended the official holiday period by an extra day, thereby allowing workers to take two days of annual leave for an 11-day break.

In February last year arrivals from multiple east and south-east Asian markets more than doubled compared to the month prior, including holiday-makers from Hong Kong (up 158 per cent), Vietnam (up 377 per cent) and Singapore (up 101 per cent).

Tourism Minister John Graham said the Lunar New Year boom is “great for the NSW visitor economy and … for the vibrancy of our city”, with Western Sydney’s food and cultural experiences playing an increasingly important role.

Travellers line-up as they wait to board sold out high speed trains during the travel rush for the Lunar New Year in China. The Chinese government has given workers an extra day of public holiday leave this year. Picture: Kevin Frayer/Getty Images

“Yes, overseas visitors often come to Sydney for the big iconic landmarks, but what keeps them coming back is the amazing experiences they have while they’re here,” he said.

Merlin Entertainments, which operates Sydney Tower Eye and Darling Harbour’s Madame Tussauds, Wild Life Sydney Zoo and Sea Life Sydney Aquarium attractions, is expected a bumper crowd of international tourists this Lunar New Year after welcoming more than 200,000 through the gates last year.

“Sydney’s festivities are some of the largest Lunar New Year celebrations outside of Asia and are a key trading period for our industry,” CEO Ian Wood said.

“The Lunar New Year is as important as the Christmas and New Year holidays, the Easter school holidays and Vivid Sydney in attracting visitors to Sydney and regional NSW.”

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