THE NEWS WRAP: Tourism industry calls on Federal Government for financial support
The tourism industry has called for the Federal Government to offer it the same financial support provided to car manufacturers, claiming that it needs assistance to compete with other destinations.
John Lee from the Tourism and Transport Industry Forum said that $12 billion has been handed to the automotive industry in the past decade, but tourism has been overlooked.
"Tourism directly employs over 500,000 Australians right across the country and is a real economic driver of many regional areas," he said.
Packer plans WA investment
Billionaire entrepreneur James Packer is planning to launch a new $1 billion development in an attempt to cash in on the Western Australian mining boom.
Packer is in talks with the WA Government to expand Perth Crown with a new five-star hotel and entertainment complex.
China becomes top Aussie produce destination
China has overtaken Japan as the premier destination for Australian food and drink products, according to new figures.
Sales of wine, meat and other produce to China totalled $4.4 billion in 2010-11, compared with shipments worth $4.2 billion to Japan.
The Dow Jones Industrial Average was unchanged at 12,448.96. The Australian dollar was up to 103.24 US cents.