The Crown Sydney hotel complex at Barangaroo will attract visitors to Sydney, generate expenditure, and support jobs in tourism and hospitality, according to peak national industry body Tourism & Transport Forum (TTF).
TTF Chief Executive Ken Morrison said the decision to approve the project will be a boon for Sydney tourism and to state coffers.
“Tourism is an extremely competitive industry and new products and experiences are vital to ensuring Sydney and Australia keep pace with our rivals,” Mr Morrison said.
“Crown Sydney will add another world-class tourism offering to Sydney, with an iconic hotel in a spectacular location.
“It will be a beacon for high-spending visitors from across Australia and around the world, especially from Asia, generating valuable export income.
“The number of Chinese people travelling internationally is expected to exceed 100 million a year in 2015 and facilities like Crown Sydney will attract wealthy visitors who want to stay in a luxury hotel and enjoy exclusive gaming facilities.
“Global tourism spending is forecast to grow 60 per cent to around $11 trillion dollars a year by 2023 and Australia needs outstanding tourism accommodation and experiences to ensure we maximise our share of that expenditure.
“Tourism is an economic development strategy for Australia and has been identified as a super-growth industry that can help to create economic prosperity and provide jobs and business opportunities as the mining investment boom declines.
“Investments like Crown Sydney will help us do just that.
“As well as broadening Sydney’s tourism product offering, the Crown Sydney complex will help to activate the Barangaroo precinct and create hundreds of jobs.
“Congratulations to Crown Resorts Limited and the New South Wales government on this agreement, which is a win-win for tourism and the state.”