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The Far North Queensland Economy Recent Movements and Short-Term Prospects

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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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slide1

“Getting Things into Perspective”

The Far North Queensland Economy

Recent Movements and Short-Term Prospects

Presentation to the Weipa Chamber of Commerce

December 2008

growth in room nights hotels motels far north queensland stat division
Growth in Room Nights – Hotels/MotelsFar North Queensland Stat. Division

Source : Cummings Economics from ABS data.

overnight visitor expenditure far north queensland
Overnight Visitor Expenditure Far North Queensland

Source : Cummings Economics from NVS & IVS data.

slide6

Agriculture

Gross Value Agricultural Production

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

Source: Cummings Economics from ABS Agstats.

gross value of agricultural production 2006 07
Gross Value of Agricultural Production2006/07

Source : Cummings Economics from ABS Agstats.

slide8

Value of Mining Production

Far North Statistical Division

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

slide10

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

value of building approvals far north qld statistical division
Value of Building ApprovalsFar North Qld Statistical Division

Source : Cummings Economics from ABS data.

population growth growth on previous year cairns region estimated residential
Population - GrowthGrowth on Previous Year - Cairns Region(Estimated Residential)

Source : Cummings Economics from ABS data..

domestic airline travel australia total airline passenger growth
Domestic Airline Travel - AustraliaTotal Airline Passenger Growth

Source: Cummings Economics from BITRE – Aviation Statistics.

slide33

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

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

slide34

Estimated Additional Mining Jobs in Pipeline

Queensland Mackay North – Mid 2008

slide35

OTHER SERVICE OUTSIDE EARNINGS

  • MARITIME SERVICES
  • AVIATION SERVICES
  • INTERNATIONAL EDUCATION

DROP IN AUST $ RESTORES COMPETITIVENESS

slide36

CONSUMER SPENDING

  • CONSUMER DURABLES DOWN
  • $100 Million PUMP PRIMING
  • EARLY DECEMBER
  • PENSIONERS - FAMILIES
slide37

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
slide39

GETTING THINGS INTO PERSPECTIVE

Loss of 600 jobs = 0.5% of workforce.

Japanese Flights = 1% to 1.5% of GRP.

slide45

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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