This morning the Australian Bureau of Statistics released its monthly tourism data which revealed yet another increase in short-term visitor arrivals.
According to the release, Australia welcomed 755,300 short-term arrivals in October, up 6.8% on the prior corresponding period.
Once again the main driver of this growth was tourism from China. The number of arrivals from China increased a massive 20% on the prior corresponding period to 124,900.
This makes the nation the largest contributor to Australian tourism, just ahead of our Kiwi neighbours.
Yet Chinese tourism into Australia pales in comparison to what other countries such as Japan, Thailand, and the United States are experiencing.
I believe this is a sign that the Australian tourism boom still has a significant amount of growth ahead of it. In light of this, I think investors should consider gaining exposure to the boom.
Casino operators and accommodation providers such as Crown Resorts Ltd (ASX: CWN) and Star Entertainment Group Ltd (ASX: SGR) could be great options. Especially considering the love of gambling that many Chinese tourists have.
But not all tourists want to gamble, shop, and lounge by the pool all day. Which could mean adventure company Experience Co Ltd (ASX: EXP) and ferry company Sealink Travel Group Ltd (ASX: SLK) are well positioned to profit from increasing levels of tourism as well.
As could Event Hospitality and Entertainment Ltd (ASX: EVT) and Ardent Leisure Group (ASX: AAD) which have theme park and entertainment offerings that cater to families.
And finally, one to watch in 2018 is AuMake International (ASX: AU8). Although I do not believe it is ready to be invested in, I’m interested to see how it performs in 2018. AuMake’s business essentially aims to sell Australian made products to daigou resellers and Chinese tourists.
Our experts here at The Motley Fool Australia have just released a fantastic report, detailing 5 dirt cheap shares that you can buy in 2020.
One stock is an Australian internet darling with a rock solid reputation and an exciting new business line that promises years (or even decades) of growth… while trading at an ultra-low price…
Another is a diversified conglomerate trading over 40% off its high, all while offering a fully franked dividend yield over 3%...
Plus 3 more cheap bets that could position you to profit over the next 12 months!
See for yourself now. Simply click here or the link below to scoop up your FREE copy and discover all 5 shares. But you will want to hurry – this free report is available for a brief time only.
Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of Crown Resorts Limited and Event Hospitality & Entertainment. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.