MEDIA RELEASE
Far North Queensland businesses are the most optimistic in Queensland in the future performance of the state and national economies, despite lower than average sales, revenue and general business conditions.
Latest results from Chamber of Commerce and Industry Queensland (CCIQ) December Quarter Pulse Report, sponsored by Mitsubishi Motors, show businesses in the state’s far north are significantly less pessimistic in the performance of the Queensland and National economies in 2022 despite generally worse-to similar business performance indicators to the state average.
Cairns Chamber of Commerce Chief Executive Officer Patricia O’Neill said a combined impact of COVID in the workplace, labour market shortages and supply chain disruptions meant many businesses were not able to realise the full impact of return interstate tourism and local consumer spending in December.
“The December state border re-opening didn’t deliver the value to the far north many businesses were hoping for,” Mrs O’Neill said.
“It meant consumer as well as business confidence, was dealt a significant blow in the December quarter.”
“It’s expected far north businesses are banking on the next 12 months and returned consumer confidence in 2022 to recoup some of those losses more than anywhere else in Queensland.”
Cairns businesses’ sales and revenue index of 36.3 was more than two points lower than the state average in the December quarter while capital expenditure was more than three points lower at 41.3 points.
Mrs O’Neill said Cairns businesses reported less of an increase in labour and operating costs than the state overall in the December quarter.”
“It meant the region’s businesses also reported less of a decrease in profitability than the state average despite similar constraints on business growth,” Mrs O’Neill said.
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Cairns Chamber of Commerce Media Contact:
Alannah Giuffrida
Executive Services Officer
| (07) 4031 1838
