Based on the recent India-Aus cricket spat (the fracas is infinitely more entertaining than cricket), can I make a hypothesis?
I think the number of movies shot in Australia will dramatically reduce. Australia has been a popular shooting location for Bollywood films - Dil Chahta, Sunday, Salaam Namaste, and Chak De India to name a few. I don't think it will last.
The reason being that Indian movie makers are big cricket fans (some like SRK and Preity Zinta have already bought IPL teams) and I don't think they will take the unrelenting abuse from the Aussies lying down.