Cairns Business ClimateThe region’s thriving and modern economy is directly engaged with lucrative Asian markets and, through the tourism industry, is a key contributor to the economic prosperity of Queensland and the nation. The discovery of mineral deposits and the diversification of primary industries in the region ensure a broad base from which industry and private enterprise flourish. Industry OverviewConstructionThe impact on the construction industry by the property boom is apparent with $6.23 billion (64%) of the value of listed developments being residential or resort development. The construction boom is being felt outside Cairns; the Innisfail to Cardwell region is experiencing significant growth, as is the Port Douglas/Daintree region and Cairns’ Northern Beaches. AviationGeography has been the principal driver behind the TNQ aviation industry however twenty years of growth has seen other factors come into play. The flourishing Tourism industry has created a demand far greater than that of a regional population alone and the Cairns airport is now serviced by three domestic and six international airlines. Servicing the 3.8 million people who pass through the airport during the year is a key contributor to the regional economy. With a goal of establishing Cairns as an aviation maintenance hub for the Asia Pacific region, companies such as Hawker Pacific are diversifying the industry and assuring its future growth.Mining and minerals processingThe current boom in mineral/metals prices on the world market has strengthened interest in TNQ resource deposits; proposed developments such as the Chalco Aurukun bauxite project in the Western Cape York region will have an exponential effect on the TNQ economy. Fulfilling another lucrative niche in the industry, Cairns is an established mining supply base and domicile centre, servicing mining ventures throughout Northern Queensland, Papau New Guinea, Indonesia and the near Pacific. The mining industry’s contribution to the regional economy is set to continue to grow. AgricultureWater resources and good climate conditions continue to support the region’s agriculture as the industry faces significant challenges in other parts of the nation. The major products reflect the diversity of TNQ such as tropical fruits (bananas, mangoes, and avocados), dairy, beef, sugar, seafood, poultry, coffee and forestry products. The aquaculture industry, based on prawns and barramundi, displays potential for growth as does the organic produce market. Sugar prices are bouncing back from a market slump; sugar and sugar mills will continue to play a significant role in the regions economy. Biotechnology and value-adding processes derived from agricultural industries are in a developmental stage but there are confident predictions of long term value to be gained. TourismCairns and TNQ boast a world renowned reputation for its natural wonders and leading tourist facilities. Established domestic and international markets around global icons such as the Great Barrier Reef and Wet Tropics Rainforest means the region’s tourism industry is an important part of the national economy. The region caters for a broad spectrum of the tourism market which is essential to the industry’s continued success in both the domestic and international markets. The region has experienced increasing success in Business Tourism with Cairns ranked number three in Australia, behind Sydney and Melbourne in hosting major international conventions in 2006. Further developments in the fields of cultural and eco-tourism will ensure the industry will continue to play a key role in the region.Marine IndustryThe region’s marine industry is built on TNQ’s position as the northern maritime gateway to the Asia Pacific region and its access to the natural resources of the Great Barrier Reef, Torres Strait and the Gulf of Carpentaria. Diversification of the industry beyond fishing has ensured the industry’s growth. The region receives an estimated $50 million per annum for maintaining and provisioning super yachts. Regular visits to Cairns by Cruise Ships are another growing contributor to the region and have a flow on effect to other industries servicing the supply chain. Economic advantagesThe economic strength of TNQ is typified by its measured and sustainable embrace of natural resources by the Agriculture and Tourism industries. The innovation and expertise of the local people is quantified as an economic resource through leading work in the fields of tropical health, medical research and scientific innovation. The economic outlook of the region is steadily diversifying as the growing population expands into burgeoning or untapped markets created through the synergy between a modern sustainable ethos and traditional market forces. Natural Resources and Assets- The Great Barrier Reef and the Wet Tropics Rainforest, two world renowned natural resources important to the economies of the region and the nation.
- Reliable water supplies to meet foreseeable domestic, industry and agricultural needs.
- Extensive mineral deposits serviced by established infrastructure.
- Emerging and established primary industries.
- Land availability for residential and industrial development
- Access to South East Asia and Pacific Markets
TNQ InfrastructureTransportThe Cairns Sea Port is a multi-purpose port and redistribution centre for coastal communities north of Cairns, the Torres Strait Islands and the Gulf of Carpentaria and caters for a variety of industries including agriculture, mining and tourism. Yearly cargo through the port totals 1.19 million tonnes. The ports of Mourilyan, Weipa, Cape Flattery and Karumba are crucial to the regional economy, providing remote access for regional commodity exporters and the expanding mining industry.The Cairns International Airport handles over 130,000 aircraft movements each year. Six international airlines service 166 scheduled aircraft movements each week and five domestic airlines service all major business centres. A $250 million upgrade of airport infrastructure is currently underway which will strengthen the airport’s position as one of the best in the country. Water and Energy InfrastructureA reliable water supply has played an essential role in the development of the region and work is being done by local government and private agencies to ensure provision for the region’s forecasted growth. The Cairns area is serviced by the Copperlode Falls Dam and Behana Creek. Tinaroo Dam has been used as a principal source of irrigation for farmers on the Atherton Tablelands for over 50 years. It also provides a small amount of hydroelectric power. TNQ’s three main hydroelectric power stations have recorded an increase in output since 2006 and the extra hydro output has displaced some coal generated electricity in the region. At Kareeya, northwest of Tully, power generation rose to 620,000MW, up from 381,000MW, while Koombooloomba, near Ravenshoe, generated 29,000 MW up from 9,000MW in 2005-6. The 44 year old Barron Gorge station underwent a $28 million upgrade which boosted output to 235,000MW. Information sourced from Advance Cairns http://www.advancecairns.com
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