Australia's tourism industry needs to view the strong dollar as an opportunity to secure global events, says shadow treasurer Joe Hockey.
The strong Aussie dollar is widely seen as a threat to the industry, which is still reeling from the impacts of the global recession and recent natural disasters.
But Mr Hockey said the high dollar didn't have to compound the sector's woes.
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"I think the Australian dollar will remain high for an extended period of time but what we've got to do is be smart about it," he told a conference in Sydney hosted by the Tourism and Transport Forum.
"A high Australian dollar should be viewed as an opportunity."
Mr Hockey conceded the meteoric rise of the dollar - which hit a record-high of 110 US cents on Monday - made Australia "an expensive destination for many overseas tourists".
But securing global events while the dollar is strong could help revive the struggling sector.
"Australia is in a great position in the tourism industry to attract events because our buying power for events is far stronger than it was a few years ago," he added.
"Here's a tip for the tourism industry: Go out there and grab those events. People will travel for an event."
Tourism Queensland's CEO Anthony Hayes made a similar point earlier in the day, saying the state could have better buffered the impacts of January's disastrous flooding had it secured more major events.
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