The Mining Industry Is Affecting Australia's Economy
The Australian economy is one of the biggest mixed market economies in the world, whilst having a GDP (Gross Domestic Product) of $1.62 trillion; it also has many industries which help boosts the market. Two of these include the likes of the mining and tourism trades.
One of the most financially beneficial trades, the mining industry, has had a massive impact on the Australian economy in many ways, for example; this industry employs more than 200,000 Australians a year, over the span of 11 years over $400 billion worth of resources were originated in Australia and we are the main exporters for resources such as copper, gold, zinc and aluminium.
The tourism industry on the other hand has also made some beneficial marks to the Australian economy. …show more content…
Tourism plays a major contribution to the employment of Australia, employing 908,434 people totalling to 7.9% of Australia’s employment and it also contributes to $87.3 billion to Australia’s GDP. From what I believe to be the best industry that will create long term results for Australia in this so called “Asian Century” is the tourism industry.
Tourism has many advantages, as well as disadvantages that affect the Australian economy enormously.
There are quite a few advantages that are actually very beneficial, and without these advantages, a percentage of the Australian economy would fault. One very obvious benefit is the source of income that tourism would bring into the economy. Even though the labour force is quite demanding, a lot of the businesses are small, thus meaning that every cent is quickly felt by the owners.
Now, another advantage to tourism is the amount of jobs that it brings to the economy. There are many positions that become available in the tourism industry such as tour guides and hotel staff. This not only gives employment to Australians, but it also increases goods and products to the local trade.
However, there are various negative impacts that tourism makes to the economy, and as much as tourism will increase profits, there is a leakage which could possibly prevent the amount of money actually making it into the economy. In a study conducted by the UNEP, it is found that ‘about 80% of travellers’ expenditures go to airlines, hotels and other international companies, and not to local businesses or workers.’ (UNEP, …show more content…
)
Amongst the leakage, enclave tourism is another disadvantage which affects the economy. Many holiday deals include an ‘“all-inclusive” vacation package’ (UNEP , ), which unfortunately means that local businesses would lose any likelihoods of earning income at all from the tourists.
As much as there are both disadvantages and advantages it is important to compare both to see the good and the bad of a situation.
From reading above, it is obvious that there are short term disadvantages; however there are much more long term advantages that increase the Australian economy.
Now amongst tourism, there are many environmental and social aspects which can heavily impact Australia and its economy. Regarding the environmental impacts, tourism can increase awareness of conservational values and can be thought of as a way to finance the security of our natural and beautiful expanses. Although, tourism is linked to the construction of roads, resorts and airports, this can obstruct the environment.
As for the social impacts, tourism can have a very damaging impact in many ways that can affect the different cultures. As said by the UNEP, ‘Culture clashes’ (UNEP) can result in financial disparity and occupation level friction due to the massive difference in cultures, beliefs, languages and values of regimes. This can affect the tourism industry in numerous ways, I cant like idk finish this rn and idk why so im gonna do it tomorrow morning first up during
diploma
A really important aspect that has several benefits to it is employment. The tourism industry creates numerous employment opportunities for so many Australians which boosts the economy exponentially. As said earlier in this article, the tourism industry supplies jobs to 7.9% of the Australian population. In the near future, it is obvious that as the Australian economy and the tourism industry develop, there will be new job opportunities for Australians in a variety of different workforces.
The future Australian economy has so much potential to prosper in the forthcoming tourism industry. From what’s shown throughout various articles and statistics, the tourism industry has many beneficial impacts that can easily satisfy the environmental and sociological aspects which can make many improvements to the economy as said previously during the article. The employment rate will surge increasingly which is the ultimate benefit to the Australian economy.
One of the most financially beneficial trades, the mining industry, has had a massive impact on the Australian economy in many ways, for example; this industry employs more than 200,000 Australians a year, over the span of 11 years over $400 billion worth of resources were originated in Australia and we are the main exporters for resources such as copper, gold, zinc and aluminium.
The tourism industry on the other hand has also made some beneficial marks to the Australian economy. …show more content…
Tourism plays a major contribution to the employment of Australia, employing 908,434 people totalling to 7.9% of Australia’s employment and it also contributes to $87.3 billion to Australia’s GDP. From what I believe to be the best industry that will create long term results for Australia in this so called “Asian Century” is the tourism industry.
Tourism has many advantages, as well as disadvantages that affect the Australian economy enormously.
There are quite a few advantages that are actually very beneficial, and without these advantages, a percentage of the Australian economy would fault. One very obvious benefit is the source of income that tourism would bring into the economy. Even though the labour force is quite demanding, a lot of the businesses are small, thus meaning that every cent is quickly felt by the owners.
Now, another advantage to tourism is the amount of jobs that it brings to the economy. There are many positions that become available in the tourism industry such as tour guides and hotel staff. This not only gives employment to Australians, but it also increases goods and products to the local trade.
However, there are various negative impacts that tourism makes to the economy, and as much as tourism will increase profits, there is a leakage which could possibly prevent the amount of money actually making it into the economy. In a study conducted by the UNEP, it is found that ‘about 80% of travellers’ expenditures go to airlines, hotels and other international companies, and not to local businesses or workers.’ (UNEP, …show more content…
)
Amongst the leakage, enclave tourism is another disadvantage which affects the economy. Many holiday deals include an ‘“all-inclusive” vacation package’ (UNEP , ), which unfortunately means that local businesses would lose any likelihoods of earning income at all from the tourists.
As much as there are both disadvantages and advantages it is important to compare both to see the good and the bad of a situation.
From reading above, it is obvious that there are short term disadvantages; however there are much more long term advantages that increase the Australian economy.
Now amongst tourism, there are many environmental and social aspects which can heavily impact Australia and its economy. Regarding the environmental impacts, tourism can increase awareness of conservational values and can be thought of as a way to finance the security of our natural and beautiful expanses. Although, tourism is linked to the construction of roads, resorts and airports, this can obstruct the environment.
As for the social impacts, tourism can have a very damaging impact in many ways that can affect the different cultures. As said by the UNEP, ‘Culture clashes’ (UNEP) can result in financial disparity and occupation level friction due to the massive difference in cultures, beliefs, languages and values of regimes. This can affect the tourism industry in numerous ways, I cant like idk finish this rn and idk why so im gonna do it tomorrow morning first up during
diploma
A really important aspect that has several benefits to it is employment. The tourism industry creates numerous employment opportunities for so many Australians which boosts the economy exponentially. As said earlier in this article, the tourism industry supplies jobs to 7.9% of the Australian population. In the near future, it is obvious that as the Australian economy and the tourism industry develop, there will be new job opportunities for Australians in a variety of different workforces.
The future Australian economy has so much potential to prosper in the forthcoming tourism industry. From what’s shown throughout various articles and statistics, the tourism industry has many beneficial impacts that can easily satisfy the environmental and sociological aspects which can make many improvements to the economy as said previously during the article. The employment rate will surge increasingly which is the ultimate benefit to the Australian economy.