Page 36 - Tropic Magazine Issue 26

TROPIC • COVER STORY

Resilience and

opportunity

The Cairns region has bounced
back from economic setbacks
before and we’ll do it again,
writes NAB’s FNQ leader
Elisha-Vi Raso.

As any local or tourist to this region
would know, Far North Queensland has
a lot going for it. Cairns consistently
ranks highly in liveability surveys due to
its affordable housing and strong sense
of community, and our high-quality
health and educational services. Then fundamentally changed the way and why wouldn’t your home be in Far
there are the obvious benefits with our businesses operate. Now that we have North Queensland? The list of liveability
access to the stunning natural beauty and somewhat adjusted to living with these benefits is long, from the natural benefits
environmental benefits that the region restrictions, we’re looking ahead to a of the Reef and Rainforest and the four-
has to offer. The Great Barrier Reef on our post-COVID landscape. Queensland bedroom and a pool for under $500k
doorstep, the oldest surviving rainforest businesses have shown their resilience homes to the 15-minute commute to
on earth in the Daintree, the clean green in the face of a number of adverse work. Enviable lifestyle benefits indeed.
Cassowary Coast and the rich volcanic situations, and I know our business Don’t come once a year and visit Port
soil and natural wonders of the Atherton leaders are busy anticipating what post Douglas and Palm Cove - live here and
Tablelands to name but a few. COVID success looks like, and how their visit Melbourne once a year!
Before the COVID-19 pandemic, tourists business will thrive in the long term. This region has a huge opportunity to
from all over Australia and the world So what do we do? How do we work present itself to the southern states. A
visited our beautiful region. The Cairns together as a region and a business bigger residential base will be a great
economy was strong with GRP growth community to turn this economic crisis start to more diversification within our
above Queensland and Australian into an opportunity? As we know, tourists great region. There is a lot to think about
averages. Post-COVID, we have all seen stopped coming when the borders were however. We need to ensure that we
first-hand the devastating impact this closed and planes stopped flying as attract the right talent and then engage
health crisis has had on our region. Australians went into lockdown. That’s them in the community so they feel
Tourism, which accounts for 1 in 5 jobs when we first saw the changes in the way connected locally. These are challenges
in Cairns, continues to struggle with the Australians worked - within a moment that can be overcome with creative and
Far North one of the hardest hit regions we all had to work from home. “WFH” critical thinking and I believe this is an
nationally. In NAB’s latest Monthly is the new normal. All businesses from opportunity this region cannot afford to
Business Survey, we saw a deterioration large corporates, SMEs and small Mum miss.
in business conditions which was and Dad businesses have all had to I have been fortunate enough to grow
broad-based across the states, with sharp innovate and navigate this new way of up in this region and one of the things
declines in Queensland. With borders work. Working from home has evolved I love and admire the most about Far
beginning to re-open to other states, faster than we ever could have imagined. North Queensland is its resilience. Just
with the ACT being the most recent, NAB went from having 13% to nearly like the many challenges we have faced in
business confidence improved 6 points to 90% of its staff working from home in a the past (pilot strikes, the GFC, cyclones)
-8 index points after falling sharply last matter of weeks. In fact, 32,000 of NAB’s I know we will recover from this crisis.
month, and business confidence remains staff now have the ability to work from It’s going to take some thinking outside
negative in all states except Queensland home, while our frontline retail staff the box, and all of us need to roll up our
and Tasmania. continue to serve customers for their sleeves and work together. But we will get
In a tourism dependant region like Far everyday banking needs in branch and through it together and just like the GFC
North Queensland, it’s likely that the online. It poses the question: if you can and over the last 160 years, NAB remains
landscape businesses operate in will do your job from home in a capital city committed to regional business and
be forever changed by the pandemic. during lockdown, then why can’t you communities in Far North Queensland.
The COVID-19 global health crisis do your job permanently from home…

36 • Tropic • Issue 26