Missing that Euro summer tan that the other half of UQ seems to have? Didn’t find the time (or the money) over the break to squeeze in that sneaky ski trip to NZ? Well, to help you plan your next little getaway, the UQES publications team brings you an economist’s guide to the ultimate holiday destination.
National population: 66.57 million
National Nominal GDP: 2565 billion USD
Iconic Sights: London Eye; Big Ben; Hyde Park; Kensington Palace
Whilst it might be summer during December in Australia, those travelling to London for Christmas had best rug up with temperatures set to drop over the holiday season. The UQES team suggests dropping in to the Globe Theatre or finishing off your festive shopping at Covenant Gardens Piazza to escape the winter cold. What’s more, with the unemployment rate down to a cool 4.2%, it should be easy to lock in that cute little au pair job to help pay for all those drinks you’ll be consuming at the many iconic pubs the city has to offer. But don’t expect to be staying at The Ritz or dining on tea and scones every afternoon! With nominal wage growth of 2.8% only recently outpacing the inflationary pressure brought about by Brexit, we recommend having some back-up savings before you set off on your trip.
National population: 36.29 million
National Nominal GDP: 1640 billion USD
Iconic Sights: Jasper National Park; Calgary Tower; Prince’s Island Park
If those social media accounts are looking a bit dull, a trip to Calgary might provide you with the perfect scenic snapshots to help boost your followings again. This place is steeped in culture and bursting with natural resources, where agriculture, energy, forestry and mining account for almost 60% of the country’s exports each year. And whilst these natural abundancies are great for international trade and the Canadian economy, Banff National Park and the Rocky Mountains make for popular tourist destinations too! However, with return tickets likely to set you back around $1300 AUD, a good old cost versus benefit analysis is probably best applied here.
New Delhi, India
National population: 1.32 billion
National Nominal GDP: 2439 billion USD
Iconic Sights: Taj Mahal; Agra Fort; India Gate; Yamuna River
Perhaps not on the top of your ‘must-see’ list, India is one of the fastest emerging markets, boasting an annual real GDP growth rate of 7.2%. With the world’s lowest ratio of purchasing power conversion factor to official exchange rate according to the World Economic Forum, make the most of your expanded budgetary constraint by hitting up the local shops at Sarojini Markets and eating as much phaal curry as you can bear (warning: it’s hot!). We recommend getting in quick though before everyone else starts hitting up this bargain holiday spot, because we all know higher demand leads to spicier prices!
After checking our bank accounts, it’s unfortunately very likely the Pubs team will be sitting this summer out and kicking back at one of the local Aussie beaches. Rather than snacking on exotic street market food or meandering through the snow-covered parks of London, you’ll find us barbequing up a few snags and getting sunburnt at Burleigh Beach instead. You can thank us from your villa/suite/hotel room or whatever fantastic location you may be for doing our part to boost domestic spending and for keeping the Australian economy strong!
Written by Emma Beal