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As many as one in five businesses in Australia s $50 billion tourism industry could fail in 2021, with operators and advocates pushing the Morrison government to extend temporary wage assistance.
New modelling by the Tourism & Transport Forum shows nearly 32,000 businesses are at risk this year, amid coronavirus travel restrictions and Australia s ongoing international border shutdown.
Entrepreneur Peter Wright says many tourism operators won t survive another year of pandemic pain.
David Hill
Prepared for the federal government by modellers Stafford Strategy, the figures show of the nearly 160,000 tourism businesses nationally, those more than three hours drive away from major cities are particularly at risk if the $90 billion JobKeeper scheme isn t extended beyond March.
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Asia-Pacific Shares Track Wall Street Higher on Hopes of Massive New US StimulusHong Kong stocks ended lower, snapping a five-day winning streak, as investors locked in profits following sharp gains.
Jan 21, 2021 08:58 AM GMT
The major Asia-Pacific stock indexes were mixed but mostly higher on Thursday with Hong Kong giving back a portion of this week’s stellar gains. Shares in the region rose after stocks on Wall Street soared to record highs as U.S. President Joe Biden was sworn into office.
Investors are hopeful the incoming Biden administration will be able to secure passage of a massive new stimulus package to cushion the economic damage of the COVID-19 pandemic.