Mining turns to dining boom

THE Wagners’ $200 million Toowoomba airport is spearheading Queensland’s transition from the mining to the “dining boom” and has become an example for the rest of the country, according to economists.

CommSec chief analyst Craig James said Wellcamp airport demonstrated how agricultural regions could capitalise on Asia’s increasing demands on fresh produce.

“The Wagner family had this vision, that if they could build an airport then they could send all this wonderful produce from the Darling Downs and the Lockyer Valley straight to Asia,” Mr James said.

“More and more regions are now also looking to start to send direct flights, in a similar way.

“It’s an amazing change (in focus) in a short amount of time. It was once all about (exporting) iron ore, coal and core base metals.

“Things have changed, now we’ve got the dining boom, rather than the mining boom.”

In November last year, Brisbane West Wellcamp Airport struck a deal with Cathay Pacific and Menzies Aviation to export up to 70 tonnes of produce to Hong Kong each week.

General manager Sara Hales said the airport had recognised the commercial viability and opportunity for Queensland exporters.

“It isn’t just about getting to Hong Kong, it’s a global cargo network with 107 destinations around the world, that’s what we’ve connected Queensland exporters to,” she said.

KPMG chief economist Brendan Rynne said Australia was a leading economy in the agricultural sector and the building of infrastructure, such as the airport, further facilitated global trade.