Business hopes on tourism
THE results of the fifth Gympie region business confidence survey released today reveal that the ongoing uncertainty in global financial markets continues to impact on the local economy and community.
Economic analysis of the survey results has highlighted that many businesses in the Gympie region have had a difficult six months but their confidence is skewed slightly towards the positive going forward.
Darryl Conroy from Suncorp Bank puts the Gympie region into perspective with the broader Australian and international economies.
"The non-mining economy has suffered from a business squeeze," he said.
"That is, profits are being squeezed by falling sales at the revenue end and rising costs at the expenses end.
"Here in Australia, a big part of this squeeze is due to the resources boom, but it is also a function of fundamental change resulting from technological change, global competition and a global financial system that is still adjusting."
In addition to the standard baseline questions about business confidence, constraints and opportunities, the survey looked at tourism and investment attraction initiatives for the region.
When asked to rank investment attraction attributes from most important to not important, the business community strongly ranked employment and growth opportunities as the most important.
Of the 254 businesses who responded, 60% felt their business would benefit either directly or indirectly from increased tourism in the region.