Short term visitors from China dropped from 128,800 to 105,400 in seasonally-adjusted terms, according to the Australian Bureau of Statistics (ABS) Overseas Arrivals and Departures data for January 2020. 

Total visitor numbers from China also dropped 5.5% for short term, long term, and student arrivals.

Despite this drop in one of Australia's largest visitor nations, international movements rose 1.6% on the year, with much of the Chinese losses made up for by India, which saw a 10.9% increase in the total number of visitors annually. 

International student arrivals in January were also up 1% on January 2019, but the ABS is expecting a drop-off in the following months due to the outbreak of coronavirus, or COVID-19.

"The outbreak of COVID-19 in early 2020 is expected to disrupt the movement of international students from China, particularly from February, due to the introduction of travel bans," the ABS report said.

"In 2019, China was the largest source country nationally. Educational exports are an important contributor to the Australian economy."

Despite the drop in Chinese arrivals, it still remains the second-largest contingent of visitors, with 112,700 movements in January.

The largest group were New Zealanders at 121,300, and in third place was the United States at 68,800.

The state that saw the largest increase in visitor movements on the year was Western Australia, with an increase of 24.5%, followed by Tasmania at 22.4%.

The ACT and NSW saw drops of 12.6% and 0.8% respectively. 

Looking for a place to stash your savings? Below are some savings accounts with the highest interest rates in the market.

Rates
Features
Conditions
Other
Provider
000$product[$field["value"]]$product[$field["value"]]$product[$field["value"]]More details
*Rate varies on savings amount
  • Deposit $500 per month to get bonus interest
  • 5.50% p.a. available on total savings up to $100k.
  • 5.00% p.a. applies to savings between $100k-250K.
  • Tiered bonus rates apply. (TMDs at ubank.com.au)
*Rate varies on savings amount

Save Account (<$100,000)

  • Deposit $500 per month to get bonus interest
  • 5.50% p.a. available on total savings up to $100k.
  • 5.00% p.a. applies to savings between $100k-250K.
  • Tiered bonus rates apply. (TMDs at ubank.com.au)
More details
010000$product[$field["value"]]$product[$field["value"]]$product[$field["value"]]More details
  • Deposit at least $1,000+ each month from an external source
  • Make 5 or more eligible transactions
  • Grow your savings balance each month

Savings Maximiser (<$100k)

  • Deposit at least $1,000+ each month from an external source
  • Make 5 or more eligible transactions
  • Grow your savings balance each month
More details
010000$product[$field["value"]]$product[$field["value"]]$product[$field["value"]]More details

Boost Saver

    More details
    • A high-interest online savings account with no monthly fees, easy withdrawals and award-winning digital banking
    • No withdrawal notice periods or interest rate penalties
    • Save up to 10% on eGift cards at over 50 retailers with Macquarie Marketplace

    More details
    Important Information and Comparison Rate Warning

    All products with a link to a product provider’s website have a commercial marketing relationship between us and these providers. These products may appear prominently and first within the search tables regardless of their attributes and may include products marked as promoted, featured or sponsored. The link to a product provider’s website will allow you to get more information or apply for the product. By de-selecting “Show online partners only” additional non-commercialised products may be displayed and re-sorted at the top of the table. For more information on how we’ve selected these “Sponsored”, “Featured” and “Promoted” products, the products we compare, how we make money, and other important information about our service, please click here. Rates correct as of August 21, 2024. View disclaimer.

    Important Information and Comparison Rate Warning

    86 400 ditches international fee

    Neobank 86 400 has today ditched its fee on international debit card transactions.

    Previously, customers paid 1.5% when overseas, and from global vendors online, every time they purchased with their debit card.

    This also applies to digital wallet purchases.

    86 400 also does not charge fees for overseas ATM withdrawals, though the host ATM may still charge a fee.

    This now makes 86 400's debit card comparable with other neobanks' cards.

    For example, Up Bank has no international transaction fees, and slashed its overseas ATM fee earlier this year.

    At the time of writing, the Australian Dollar is buying 62 US cents - an 11 year low.