Property Highlights by Troy Gunasekera

Qld Tourism Boom Worth Billions & Interest Rates an Each-Way Bet

Property Club Other

Some great positive information through about the Queensland tourism boom that is now worth $17 billion after growing about $2 billion in the last two years.

There is more work required around this boom in training and support, as the Star Entertainment Group Queensland managing director Geoff Hogg says a lot of people go into tourism in a services role before moving up the ranks.

Hogg, who is helping to roll out the Queen’s Wharf resort project in Brisbane’s CBD, is working with TAFE Queensland to train frontline staff.

Department of Innovation, Tourism Industry Development and the Commonwealth Games director-general Damien Walker says building up staff numbers in the tourism industry can be a double-edged sword.

“We need more people to get into the tourism business, but we need the best and brightest,” Walker says.

“You go to places like Vietnam or Thailand and the service there is impeccable. They are our competition.”

Interest rates an each-way bet amid confusing mortgage moves reported that it’s a great rates race, and millions of Australian mortgage customers risk being left behind.

Variable home loan interest rates are moving in both directions as lenders jostle for position, making now more important than ever to check your mortgage.

Research by comparison website found that more than a dozen smaller and mid-sized lenders increased variable rates last month, following the lead of major banks Westpac, ANZ and the Commonwealth Bank.

However, a handful of lenders announced variable rate cuts, including HSBC, online lender Tic Toc, and CommBank lowering its basic variable home loan product by a quarter of a percentage point to 3.89 per cent.

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