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“Getting Things into Perspective ”. The Far North Queensland Economy Recent Movements and Short-Term Prospects Presentation to the Weipa Chamber of Commerce December 2008. Tourism Growth Phases. Growth in Room Nights – Hotels/Motels Far North Queensland Stat. Division.

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“Getting Things into Perspective”

The Far North Queensland Economy

Recent Movements and Short-Term Prospects

Presentation to the Weipa Chamber of Commerce

December 2008


Tourism Growth Phases


Growth in Room Nights – Hotels/MotelsFar North Queensland Stat. Division

Source : Cummings Economics from ABS data.


Overnight Visitor Expenditure Far North Queensland

Source : Cummings Economics from NVS & IVS data.


Agriculture

Gross Value Agricultural Production

(Long-Term Growth 1982/83 to 2006/07) $m

Source: Cummings Economics from ABS Agstats.


Gross Value of Agricultural Production2006/07

Source : Cummings Economics from ABS Agstats.


Value of Mining Production

Far North Statistical Division

Source: Cummings Economics from Q’ld Dept of Mines & Energy.


Estimated Existing Mining WorkforceFar North Queensland – Mid 2008


AIR SERVICES EX CAIRNS REGION TO MINES, MINING CENTRESAND MAJOR CENTRES NTH QLD, PNG, PAPUA (INDO) & NT


Source: Cummings Economics from ABS data.


Source: Cummings Economics from ABS data.


Source: Cummings Economics from ABS data.


Source: Cummings Economics from ABS data.


Source: Cummings Economics from ABS data.


Value of Building ApprovalsFar North Qld Statistical Division

Source : Cummings Economics from ABS data.


Population - GrowthGrowth on Previous Year - Cairns Region(Estimated Residential)

Source : Cummings Economics from ABS data..


Source: Cummings Economics from ABS data.


CHANGES IN REAL GDP USA


Domestic Airline Travel - AustraliaTotal Airline Passenger Growth

Source: Cummings Economics from BITRE – Aviation Statistics.


PROPENSITY TO TRAVEL


JAPANESE FLIGHT LOSS


MININGPercent Fall in Metal PricesJuly 21 to November 24 in $US and $Aust

Source: US Prices – KITCO Base Metals; Exchange Rates – RBA.


Estimated Additional Mining Jobs in Pipeline

Queensland Mackay North – Mid 2008


OTHER SERVICE OUTSIDE EARNINGS

  • MARITIME SERVICES

  • AVIATION SERVICES

  • INTERNATIONAL EDUCATION

DROP IN AUST $ RESTORES COMPETITIVENESS


CONSUMER SPENDING

  • CONSUMER DURABLES DOWN

  • $100 Million PUMP PRIMING

  • EARLY DECEMBER

  • PENSIONERS - FAMILIES


INVESTMENT

  • VALUE OF BUILDING APPROVALS

  • 1st Quarter 2008/09 = $500 m

  • (cf – Total 2007/08 = $1.2 bn)

  • GOVT SPENDING NEXT FEW YEARS

  • UPGRADE GOVT SERVICES, HEALTH & HOSPITAL

  • EXTRA EMPLOYMENT


GETTING THINGS INTO PERSPECTIVE

Loss of 600 jobs = 0.5% of workforce.

Japanese Flights = 1% to 1.5% of GRP.


PENINSULA AREA MINERAL PROJECTS


QUEENSLAND REMOTE REGIONAL POPULATION TRENDS


The Far North Queensland Economy

Recent Movements and Short-Term Prospects

Presentation to the Weipa Chamber of Commerce

December 2008

www.cummings.net.au


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