Chinese tourists expected to splash cash in Australia

Australian companies have been urged to put measures in place to accommodate the expected influx of Chinese tourists over the next few years.

Chief executive of the Pacific Asian Travel Association Martin Craigs told the Australian Associated Press that visitors from China will be armed with fistfuls of overseas travel money when they venture down under.

The demand for holidays among Chinese citizens is rapidly spiralling upwards, which was demonstrated by Tourism Australia statistics for 2011.

According to the figures, China was the fastest growing market in terms of inbound passengers to Australia, with 5.9 million heading to the country.

This is in spite of the fact that the Aussie dollar remains very strong, which has seen plenty of Australians head in the opposite direction to Chinese tourists, as Asian destinations are currently offering the best exchange rates.

Mr Craigs was reported as saying that Australia must be "export ready" and that the Chinese are "tourists who are high net worth and spending a great deal when on holiday".