Deloitte's Positioning for Prosperity findings showed that making the sector attractive to foreigners could see the nation bring in some $250 billion (£138 billion) to the economy in the next two decades.
It is thought that in the next two decades, Chinese investors will own more than half of all urban Australian homes, up from 14 per cent in 2012 - recently Australia was named as the second-most attractive area in Asia Pacific for foreign property.
And Deloitte partner Chris Richardson said it is vital that these investors are catered to by the nation as a whole.
“Our future prosperity will come from a more diversified spread of sectors, enabling Australia to remain the fastest-growing developed Western nation in the world in the coming decade,” he said.
“Asia’s boom is not ending. It is just changing and Australia is well positioned to exploit these opportunities especially in tourism, wealth management and food processing as we are a trusted brand
Posted by Craig Francis