Australia needs to embrace and accept its proximity to Asia and the ‘new first world’ in order to better our economic and tourism fortunes, according to economic forecaster, Clifford Bennett.

As part of his speech at ATEC’s Meeting Place conference next week, Mr Bennett will debate the Government’s recent Asian Century white paper, which encourages Australia to offer Asian nations “more sophisticated” services.

The forecast expert says, the notions put forth in the paper are “unrealisitic” and Australia would better benefit by recognising advantages of inter-regional trading and getting on board as an Asian nation.

“Our region offers plenty of growth potential and Asia and Latin America now drive the global economy – that’s good news for Australia,” Mr Bennett explained.
 
“Right now we are the great underperformer of Asia and it will be our challenge to step up to the opportunities that are clearly there for Australian businesses.”