Tuesday, September 20, 2011

Whitsunday woes

The Sunday Mail ran a feature on the woes of the Whitsundays which may makes Cairns look like a boom town. This has since been followed up at macrobusiness: beautiful one day, bust the next

"There are a couple of areas around Australia that I consider interesting microcosms of the risks of non-diversified long term investment portfolios. There are obviously some regions in Australia, such as mining towns, that are currently booming and you would probably be laughed at to suggest that these places are in danger of having their economies collapse which, at least for now, is the case.
Back in 2007 if you went to a place like Airlie Beach in North Queensland and made the same gloomy statements you would have received a similar laugh. Today, however, that is not the case."

This chart is from The Economic Importance of Tourism in Australia's Regions. Something to reference and come back to perhaps as there are some points deserving of discussion both in agreement and disagreement ......

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