Economic confidence in holidays, tourism and density living
Despite the current international economic concerns the concrete commitment to the tourist and holiday industry- together with major development and redevelopment continues to provide all the positive signals for the strata and community title industries.
There remain two major factors that are highlighting the long term growth and economic confidence in the industry – driven by huge investment in new products and the commitment by governments at all levels to support the event and holiday industries with real vigour. I am sure that most people in the strata and community living industry, certainly we in management rights are, are seeking greater growth across the Australian states – especially in Queensland and the eastern states which are unprecedented.
The development commitments at all levels, from billion dollar resorts and entertainment centres in capital and regional destinations, are just the headlines emphasising the diversity of development taking place in the high rise and resort holiday accommodation expansion in a diversity of destinations. The desire of Australians to enjoy the benefits and luxuries that are now available in density living complexes continues to drive developers to meet the life style demands of a diversity of generations who wish not only to holiday in strategic locations, but reside in cities and regional centres under the same conditions.
And to back up the lifestyle living benefits, governments at all levels have embraced the desire for citizens and holidaymakers to enjoy special events, both one offs, major carnivals and seasons sports as well as travel tours, live shows and cultural events. There are plenty of events taking place in Queensland for example before the 2018 Commonwealth Games that we all hope will be as successful a catalyst as the 1982 event which became the forerunner to Brisbane’s Southbank development and the cultural centre complex and the 2000 Olympics taht brought millions of visitors to our shores.
We at ARAMA are excited that the future of management rights and property investment can add significantly to investment certainty for investors who are being battered by the global issues affecting our export industries.
The latest turnaround of the Qantas performance is a clear example of along with the commitment by the Brisbane Airport Corporation and other airports to invest in major expansions. It is amazing to think that the Brisbane airport expansion is currently the state’s largest infrastructure project, outstripping the expenditure traditionally undertaken by the miners.
The event business is amazing – in north Queensland football fans are happy to travel 500km or more to see national football matches, despite the fact that they are covered by television while rodeos, shows and a range of cultural events are seeing people plan multiple vacation breaks to be a part of the live event action. The “being there” experience is being captured by organisers who want to be able to accommodate as many participants and visitors to them as possible and of course, have visitors take advantage of all the other opportunities that complete the holiday experience.
ARAMA has been pleased to see the Queensland government direct funds to regional councils and organisations to foster event opportunities and we will be supporting our regional branches in having them involved in working with the leaders of these events which emerge with the release of the calendars and funding arrangements. Our members have always been active in working with local events and with entertainment and visitors attractions to ensure that holiday guests get the maximum opportunities of enjoying the opportunities available in holiday and city destinations. Obviously our members are significant employers in local and regional areas and it is exciting to think that we will be able to help in adding real benefits to the local and regional economies.
It is important to understand that ARAMA members are a diverse group, they provide accommodation and services to meet the wide range of needs for travellers and tourists and to meet the budget requirements to suit all levels.
So while we read and view a whole lot of “doom and gloom” global headlines from international centres, we firmly believe that there is unprecedented confidence by investors at all levels to become involved in the accommodation industry and that through our 50 years of experience in developing the resident management and management rights strategies, which are recognised as world class under today’s legislation.
We see a bright future within the industry and for the benefit of the economy of the states and the nation.
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