TOURISM SECTOR GAMBLES ON RECOVERY
Written on the 13 May 2010 by Tom Reid
Mining and resources are leading the pack, education and recruitment is on the way up and property development is tipped to improve.
While these industries are kick-starting economic recovery, it’s a different story for retailers, hospitality and gaming providers and tourism operators. Increases in interest rates, the end of government stimulus packages and further consumer uncertainty surrounding the Reserve Bank’s future decision making, is stalling the recovery process, according to analysts.
Positive sentiment floating around the Gold Coast’s tourism sector must be treated with caution as one of Australia’s highest profile financial analysts predicts nothing but further decline for the industry in Queensland.
“This is something that’s not well known- that the balance of trade from the tourism industry has turned in the red for the very first time in more than a decade,” says Greenwood.
Online betting agencies shift the goalposts
Author: Tom Reid