Queenstown Rises Above The Doom And Gloom (N.Z Herald, 17/5/08)

New Zealand’s premier resort town is rising above the economic doom and gloom gripping the country.Queenstown is predicted to continue thriving, mainly because of Australia’s economic success.The Queenstown Lakes District is not immune to price increases and the downturn in property sales, but has recently topped the ladder for population and business growth in a study, and optimism remains high.Much of this is due to the growing tourist market, mostly from Australia, and the healthy foreign demand for property and services in the region.”The well-being of our economy relies more on the well-being of the Australian economy than it does on the New Zealand economy,” said Queenstown Lakes District mayor Clive Geddes.”The single largest group of visitors who come here are Australians, and they are also very active in purchasing retirement and holiday homes.”With the Australian economy doing well, and its Government about to give tax cuts worth $57 billion over four years, Queenstown’s opportunities should only increase.

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