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Chinese market set to develop

Chinese investment set to 'explode' in Australia.

The China market is set to play a key role in the future of Australian tourism, according to an industry expert.

Brett Tollman, the chief executive of the Travel Corporation, explained the market could "explode" as more Australian companies begin to realise the potential of the Asia sector, although it will take time to see the strongest returns.

Speaking to Travel Today, Mr Tollman explained: "The focus is to take the brands to China and offer consumers a better experience. It will also give us a better margin. Every market evolves slowly but the Chinese market will explode."

He added it is crucial for firms to adapt to the needs of Chinese visitors and recognise the differences in culture.

Property company Jones Lang LaSalle recently revealed that Chinese insurers' investment in commercial property in Australia increased by 30 per cent during 2013 as the market continued to attract overseas investors.

Posted by Craig Francis.

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