China is a lucrative destination for Queensland and the rest of Australia in many ways, and the same can be said for its tourism market. As the Chinese mainland and its provinces become increasingly important trading partners for Australia, it's crucial that transportation between the two countries is as efficient as it can be.
The start of 2016 marked the beginning of a new era in this particular area, as new flights have been launched between the Gold Coast and Hong Kong. It's estimated that as many as 5,000 extra Chinese visitors will now be able to visit Queensland as a result of this new connection, with potential benefits for commercial property on the Gold Coast.
Tourism is an essential component of the Australian economy, bringing in billions of dollars a year – and Queensland is no exception.
Figures from Tourism Australia show that back in 2003, China was the second-largest inbound market in terms of visitor arrivals. Despite ranking in second place, it polled the highest in terms of visitor expenditure and the number of nights spent in Australian accommodation.
The projections are just as strong. Estimates from the group suggest Chinese tourists could be worth between $7.4billion and $9billion to the national economy by 2020, so making it easier for visits to take place is of great national importance.
Hong Kong Airlines will initially be running three flights a week between Hong Kong and the Gold Coast. Connections will be made through Cairns. Efforts are already underway to promote the new route to corporate and leisure travellers.
There is already expected to be widespread demand for the services, noted tourism and major events minister Kate Jones.
"The Gold Coast tops Chinese travellers' list as the most popular destination in the state, welcoming 213,000 visitors while 165,000 visited Tropical North Queensland," Ms Jones explained.
She identified China as the largest tourism market for Queensland in terms of visitor expenditure. More than $1.1billion was contributed to the economy by Chinese visitors in the 12 months to 2015 and this new route could expand these figures even further.
As more Chinese tourists enter the Gold Coast, the spotlight will undoubtedly be on its infrastructure. Everything from retail leasing on the Gold Coast to the standard of the city's hotels will be on show, with pressure mounting for services to be up to standard.
There are already significant trade opportunities between the two nations, many of which have already been maximised along the Gold Coast. These new air links will offer a more convenient means of transportation, which may ultimately encourage more people to visit this part of Queensland.
The region has expanded considerably over recent years, with more chances to snap up commercial property for sale on the Gold Coast. However, with measures now in place to restrict investment lending, securing these deals might not be as easy as it has been in the past.
If this announcement does have the anticipated effect on interest in commercial property, it could be worthwhile enlisting the help of a local agent. After all, it's not always easy to know where to find the right real estate for you, especially during times of peak demand.
Speak to the team at Ray White Commercial Gold Coast for expert guidance and advice on how to make the most of this extremely lucrative market.