Economy of Australia
The economy of Australia is a large mixed-market economy, with a GDP of A$1.69 trillion as of 2017. In 2018 Australia overtook Switzerland, and became the country with the largest median wealth per adult. Australia's total wealth was AUD$8.9 trillion as of June 2016. In 2016, Australia was the 14th-largest national economy by nominal GDP, 20th-largest by PPP-adjusted GDP, and was the 25th-largest goods exporter and 20th-largest goods importer. Australia took the record for the longest run of uninterrupted GDP growth in the developed world with the March 2017 financial quarter, the 103rd quarter and marked 26 years since the country had a technical recession (two consecutive quarters of negative growth).
Tourism in Australia
The Australian Government released the 2020 Tourism Industry Potential on 15 November 2010, and estimates the Australian tourism industry to be worth up to $140 billion in overnight expenditure. This growth will largely be due to key emerging markets, including the China market, which is estimated to be the largest economic contributor to the Australian tourism industry by 2020. The number of Chinese visitors has more than doubled from 2006 to 2012 reaching a peak of 626,400 in 2012 and surpassing for the first time the number of arrivals from the United Kingdom. In 2013, China was Australia's fastest growing tourist market. According to Tourism Australia Managing Director Andrew McEvoy, the Chinese are the highest spending visitors to the country.