Mining magnate to invest billions in Queensland tourism
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Australian steel magnate, Clive Palmer, plans to invest billions of dollars in the Qeensland tourism industry. The billionaire, who recently bought the Hyatt Regency Coolum Resort, said the destination deserved better recognition. “This generation has let it die. In the past we had images of Paul Hogan putting a shrimp on the barbie and World Expo. The potential has always been there, but we have let it slip,” Palmer told The Courier Mail. “There are 10 million Chinese going to Waikiki and the US on package tours each year. Why don’t they come here?”Palmer hinted at major redevelopment of the Hyatt site and surrounding properties to create a “resort precinct”, and alluded to the possibility of a family-theme park, championship golf course and a casino. Palmer will announce a consolidated plan in May 2012.
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