Australia has spent big to attract swathes of Indian tourists to its shores, signed a free-trade deal with post-Brexit Britain and uncovered new Middle East markets during its 30-month trade rift with China.
Here is how six key sectors — tourism, seafood, wine, education, barley and coal — at the heart of China’s trade reprisals have fared. Two years after China imposed tariffs ranging to more than 200% on Australia wine, vintners are still processing the messy breakup with what was its most lucrative export market, previously worth about A$1.2 billion a year.
“We’re now getting our feet back on the ground,” he said. “It’s not all doom and gloom, there’s certainly these opportunities to build.” As part of its recent “Come and Say G’Day” campaign, it hosted Indian cricketers ahead of the 20:20 World Cup hosted in Australia. “In terms of spending, or export revenue, the tourism sector needs almost twice as many visitors from India than from China to make the same revenue,” said ANZ economist Madeline Dunk.Australia’s international education system is also still struggling with the double whammy of tensions and the aftermath of border closures.
Australia found a new home for the grain by diverting much of its bumper harvest to Saudi Arabia, which jostles with China for the position of the world’s largest barley importer.
Not sure how this could effect their gold mining.
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