ONLY WAY IS UP FOR FNQ

TOURISM BOOM TIPPED:

NEW hotels, tourism ventures, international flights and job opportunities have paved the way for a bumper 2018 in the Cairns and Far North region.

With the release of the latest Cairns Watch report, Herron Todd White Cairns research director Rick Carr said the Cairns economy had made significant advances during the course of 2017, but that process had wavered towards the end of the year due to tourism and employment growth both coming off the boil.

“However there are prospects for tourism growth to return as new flights start up,” he said.

The new Cairns Watch report showed over the 12 months to November 2017, passenger numbers at Cairns Airport have increased in trend terms by 1 per cent, consisting of a 1.6 per cent increase at the domestic terminal, but a 2.6 per cent decrease at the international.

But with China Southern and Hainan Airlines launching services to/from China, and Jin Air recommencing seasonal flights to/from Korea, the international terminal is set to welcome more passengers than before.

While the Cairns Region (inclusive of Cairns, the Cassowary Coast, Douglas and the Tablelands) has an unemployment rate of 5.9 per cent as at November 2017, which sits near the state’s unemployment average of 5.8 per cent, Mr Carr said job advertising rates had continued to gain strength and there were positive signs for employment and economic growth in the new year.

He also said on the property front, “Cairns remains very much in a ‘steady state’ position”.

Cairns Chamber of Commerce president Nick Loukas said he was confident the city would start to reap the rewards of major investments made throughout 2017.

He also encouraged local retailers and businesses to also take steps in investing in the local economy.

“The biggest thing in Cairns is when you look around it looks like stuff is happening, so start investing ... There’s just so much money coming into town and we want local businesses to invest and take advantage of it too.”