FOOP vs FOMO

I remember reading somewhere that Australians spend more overseas than tourists spend here?

I have serious doubts about that, but if that's true then domestic tourism might carry us for longer than many think.

 

Ive regularly been listening to see what he's got to say. Overall very good analysis imo through most of his videos.

 

Seems like you are correct we spent $20 billion more overseas the Tourist.

spend in Australia every year

In my industry which is the automotive industry.
We have seen the busiest 1 1/2 years in a 20 year history with people buying new vehicles start a new projects around the property is doing a lot more local travel spending a lot more money locally so we can definitely feel that extra expenditure that would’ve gone overseas been spent locally.

For our industry international travel will actually be a detriment for us In keeping the Australians in the country is actually a lot more profitable.

Places like Bali Thailand other ones where I’ve seen the most amount of affect from lack of tourism people forget that Australia’s largest continent in its self and we are in the many ways self-sufficient the products that we are not sufficient in her easily mass produced and we can bring them into the country phone not a lot of money

 

Holy crap. So the government should be doing everything they can to get people travelling domestically. Wow. I thought the numbers smelled bad but it's true...

 

Absolutely we have customers in places like Toowoomba Lismore that told me that businesses done really well towns are alive.

We have Trav friends now on a two week travel around New South Wales this is something that would’ve never happened had the borders been open all that money would’ve gone abroad.

Also something important to know we’ve had good rain some parts of New South Wales and parts of Queensland some communities are coming out of drought not all but some which means that we’re gonna have a good harvest we’re going to have cheaper cattle prices we can export more in 2021 later and 2022

 

Off topic question...I'm looking to buy a car in maybe 18-24 months (boring old Toyota Yaris or Suzuki Jimny, nothing special), do you think prices and stock levels will be back to normal by then? Or am I likely to have to wait longer?

 

18/24 no problem. Price will ease.

USA is absorbing a lot of stock due to gov stimulus.
Although opening in places like UK may also drive demand as large purchases may have been put off.
Ps Love the Jimny

 

Also a lot of supply issues with worldwide computer boards reducing factory capacity & COVID also reducing some plant capacities.
If these return to normal / stabilise stock levels should also improve.

 

Likely from the property couch guys?
@Ben Kingsley covered this point.

As @Illusivedreams also supported this fact with researched facts

Good point helping local economy.

 

This latest auction seems like an example of FOOP