Tourism Australia and UnionPay International sign Memorandum of Understanding
28-Aug-2017 Tourism Australia has signed a new memorandum of understanding (MOU) with UnionPay International.
This MOU will enable Tourism Australia and UnionPay International to collaborate on business development and joint promotional activity. It will also improve the Australian travelling environment and experience by facilitating the highly recognised international payment. This will in turn stimulate Chinese visitor spending in Australia and boost tourism revenue.
China is one of Australia's fastest growing tourism markets and has been our highest spending market for six consecutive years. Ensuring Chinese visitors have the holiday of a lifetime in Australia means they will aim to return for another visit and tell their friends about their great experiences.
Last year, 1.2 million Chinese tourists visited Australia, and this is forecast to nearly double by 2020. These same Chinese tourists spent $9.7 billion in Australia to the year ending March 2017. The China market has the potential to be worth over $13 billion by 2020.
UnionPay is the preferred payment service provider for Chinese tourists and other visitors from the Asia Pacific region. UnionPay cards are currently issued in 42 countries and regions, and are accepted in 162 countries and regions around the world. In Australia, over 90 per cent of ATM s and over 70 per cent of merchants accept UnionPay cards.
The Turnbull Government values the China market and is supporting its growth through the historic free trade agreement with China; trialing 10-year multiple entry visitor visas; and settling a landmark open aviation market air services arrangement that removes all airline capacity restrictions between Australia and China.
Source: Minister for Trade, Tourism and Investment