Many reasons to be hopeful

PARTICIPANTS at the annual chamber of commerce state of the Cairns and region’s economy presentation yesterday had every reason to leave with springs in their steps.

Economist Bill Cummings and property researcher Rick Carr had some optimistic news to share after a couple of years of sobering facts and figures.

”The new wave, keep it rolling” headlined Mr Cummings’ act.

He said the fresh wave was coming off an economic base that was resilient and diversified.

Mr Cummings said tourism, after difficult times, was returning to record numbers, internationally and domestically.

He believes we need to prepare for another million visitors a year and will need an extra 2800 hotel and other rooms.

He says agriculture continues to be the unsung hero, mining is a major, but variable sector, while international education is a quiet achiever.

Private investment, especially the GA Group’s $370 million hotel projects, are leading the way with others such as the Nova towers and the KUR-World eco-resort waiting in the wings.

Mr Cummings estimates thousands of jobs will come from nearly $1 billion in capital expenditure over the next three years.

He highlighted that the State Government investment drought appeared to be over with port upgrades, the convention centre expansion, the Smithfield bypass and other works.

But, he warned, that community and business leaders would have to keep the pressure on, especially after the next state election. Nick Dalton nick.dalton@news.com.au