Tuesday, December 30, 2008

Put Your Hand Up If You're Surprised

Tuesday, December 30, 2008
One of today's biggest new stories is the impending downturn in Australian tourism. The story can be found here. Experts have predicted a $500 million fall in revenue. I have one question - is anyone surprised? The media made the announcement as if it was some astonishing revelation. Surely nobody was shocked by this? 

I struggle to believe that anyone in Australia hasn't heard that we are in a financial crisis. Wouldn't most, if not all Australians think: "Hmm, I expect there'll be a downturn in business, including my industry." Isn't it common knowledge that we are in for hard economic times? I've heard that sentiment repeated numerous times.

If this story is any guide, yes - there are quite a few people who haven't thought about the repercussions of a Wall Street wipeout. There are a lot of people, some in tourism, who will be genuinely shocked by this news. Isn't that amazing? Surely, Australians are not that ignorant?

This story could have spotlighted a number of industries - hospitality, financial services or retail and the outcome would be the same - a huge fall in revenue. It's glaringly obvious - when the world is in a financial crisis, there isn't as much money changing hand. We need to brace ourselves for this - we need to hunker down for the winter ahead. Gather your chestnuts, people. It's gonna be a cold one.


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