Capricorn Coast poised to harness booming Asian growth.
AS WEALTH continues to build for our Asian neighbours, they are looking to the Capricorn Coast as the new land of opportunity.
Word is slowly spreading about the pristine environment in our backyard
and if some clever investing was done in CQ infrastructure now, big
rewards could be reaped down the track.
NAIF CEO Laurie Walker said the board of infrastructure was very aware
of positioning Northern Australia to take advantage of the burgeoning
Asian economy over the coming years.
"I think there's an amazing story to be told about the growing middle class in Asia," Ms Walker said.
"It's saying by 2030, two thirds of the world's middle class and 50 per cent of the world's GDP will be in the Asia Pacific.
"That is just staggering, you're got this massive increase in the Asian
middle class going from 500m in 2017, forecast to be over three billion
by 2030 - that's 12 years away."
She said, like with any middle class, they're wanting access to clean
green food, particularly protein, agriculture, aquaculture, medical
services, educational services, tourism and all of these things, North
Australia was able to deliver.
"There has never been a time in history when that demand that is so
proximate to Northern Australia is there and we are really the only
developed nation in the world with the proximity and the capability and
the world class regulatory standards that are what that middle class are
looking for."
Livingstone Shire Mayor Bill Ludwig is very aware of the opportunities
that are waiting to be harnessed by tapping into the Asian market.
He said local governments were increasingly being asked to play a
pivotal role in facilitating and encouraging international trade,
investment and tourism opportunities.
After being invited to participate in a Federal Government Trade
Mission to Singapore last year, Cr Ludwig said the key to achieving
greater regional economic outcomes was to develop a collective and
targeted strategic approach.
"From primary production and natural resources, to industry,
innovation, education, tourism and lifestyle; Central Queensland is in a
pivotal position to capitalise on the opportunities presented by
rapidly growing China and Asian markets," Cr Ludwig (pictured) said.
"The growing interest from China in relation to developing trade and
investment opportunities here in Central Queensland was further
highlighted by the direct invitation extended to Livingstone last year
to visit China to establish friendship city and economic bonds with both
the city of Yangzhong and town of Xinba, in Jiangsu Province.
"Yangzhong and Xinba have highly diversified economies that include a
formidable reputation as a world leader in solar energy research,
development and manufacture."
As part of that trip, he said the Livingstone delegation was also
invited to make presentations to promote our region at both the annual
Green Energy Conference in Yangzhong and International Furniture Fair
launch in Shanghai.
"The Yuexing Group is currently now researching and investigating
investment opportunities including the potential development of island
and mainland based tourism operations."
While it was still early days, Cr Ludwig said the recent investment
visits certainly confirmed that there was a genuine interest to
establish Central Queensland as a potential major destination for the
growing outbound China tourism market.
Knight Frank and Pat O'Driscoll Real Estate principal director Pat
O'Driscoll (pictured) said he had been approached by various national
and international groups over the years who were looking for
opportunities beyond Australia's capital cities.
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| Pat O'driscoll for PO'D Real Estate
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"We are in the process of hosting various Asian groups who have
recognised the natural beauty of our region with the coast and are also
now coming to understand the depth of opportunity and the strength of
the very diversified economy that Central Queensland has," Mr O'Driscoll
said.
"There's also a growing knowledge about the strength of our grazing and agricultural industries.
"Now that they have inspected the assets on offer, tourism is something
that they recognise as an industry that could launch this area on the
national and international stage."
Mr O'Driscoll said high profile visiting delegations were amazed by the
beauty that the Capricorn Coast and island group had and did not know
existed prior to the inspections.
"They're going through their due process, looking at what opportunities
there are before they go to that next phase where they select property
and purchase it," he said.
"They are gathering their knowledge, starting to understand the region
in depth and are now starting to drill down to the particular properties
that really take their interest."
One group has been back four times over the past three years.
Mr O'Driscoll said although they weren't across the line by any means,
to have a group come back so many times showed a strength of faith,
willingness and a growing interest.
Keppel MP Brittany Lauga regards the economic future of tourism in
Central Queensland as being intrinsically linked to our relationship
with Asia.
She said her government was focused on strengthening direct links with
Asia noting that last year alone, a record 488,000 Chinese visitor
Queensland last year spending $1.08 billion.
The local economy will benefit from a flourishing GKI, and the State
Government is putting $25 million in funding on the table to ensure more
jobs in the region's tourism industry.
Included in the $25 million GKI recovery package are key power and
water connections, sewerage treatment, a public jetty and boat ramp as
well as amenities for visitors, including public toilets.
The GKI commitment was part of a $134m package to secure more direct
international flights and cruise ships and rejuvenate Great Barrier Reef
island resorts if the Palaszczuk Government was re-elected.
"The Palaszczuk Government has already secured new international
flights bringing an additional 740,000 seats and injecting $570 million
into our economy every year," Mrs Lauga said.
