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

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The far north queensland economy recent movements and short term prospects

“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

Tourism Growth Phases


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.


The far north queensland economy recent movements and short term prospects

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.


The far north queensland economy recent movements and short term prospects

Value of Mining Production

Far North Statistical Division

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


The far north queensland economy recent movements and short term prospects

Estimated Existing Mining WorkforceFar North Queensland – Mid 2008


The far north queensland economy recent movements and short term prospects

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


The far north queensland economy recent movements and short term prospects

Source: Cummings Economics from ABS data.


The far north queensland economy recent movements and short term prospects

Source: Cummings Economics from ABS data.


The far north queensland economy recent movements and short term prospects

Source: Cummings Economics from ABS data.


The far north queensland economy recent movements and short term prospects

Source: Cummings Economics from ABS data.


The far north queensland economy recent movements and short term prospects

Source: Cummings Economics from ABS data.


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..


The far north queensland economy recent movements and short term prospects

Source: Cummings Economics from ABS data.


Changes in real gdp usa

CHANGES IN REAL GDP USA


Domestic airline travel australia total airline passenger growth

Domestic Airline Travel - AustraliaTotal Airline Passenger Growth

Source: Cummings Economics from BITRE – Aviation Statistics.


Propensity to travel

PROPENSITY TO TRAVEL


Japanese flight loss

JAPANESE FLIGHT LOSS


The far north queensland economy recent movements and short term prospects

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

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


The far north queensland economy recent movements and short term prospects

Estimated Additional Mining Jobs in Pipeline

Queensland Mackay North – Mid 2008


The far north queensland economy recent movements and short term prospects

OTHER SERVICE OUTSIDE EARNINGS

  • MARITIME SERVICES

  • AVIATION SERVICES

  • INTERNATIONAL EDUCATION

DROP IN AUST $ RESTORES COMPETITIVENESS


The far north queensland economy recent movements and short term prospects

CONSUMER SPENDING

  • CONSUMER DURABLES DOWN

  • $100 Million PUMP PRIMING

  • EARLY DECEMBER

  • PENSIONERS - FAMILIES


The far north queensland economy recent movements and short term prospects

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


The far north queensland economy recent movements and short term prospects

GETTING THINGS INTO PERSPECTIVE

Loss of 600 jobs = 0.5% of workforce.

Japanese Flights = 1% to 1.5% of GRP.


The far north queensland economy recent movements and short term prospects

PENINSULA AREA MINERAL PROJECTS


Queensland remote regional population trends

QUEENSLAND REMOTE REGIONAL POPULATION TRENDS


The far north queensland economy recent movements and short term prospects

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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