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"The mining boom accounted for more than half the growth in the dining industry"

Western Australia’s mining boom added A$4.8 billion (US$3.7 billion) to the state’s dining industry between 2004 and 2015, new research by Perth’s Edith Cowan University (ECU) has found.

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Finance > Capital-markets

"The mining boom accounted for more than half the growth in the dining industry"

Western Australia’s mining boom added A$4.8 billion (US$3.7 billion) to the state’s dining industry between 2004 and 2015, new research by Perth’s Edith Cowan University (ECU) has found.

Staff reporter

"The mining boom accounted for more than half the growth in the dining industry"

WA’s mining boom prompted a dining boom

Image: iStock.com/Rawpixel

The boom years in Perth also pushed prices higher, with then-BHP (AU:BHP) boss Marius Kloppers making headlines in 2012 when he lamented the $5.50 (US$4.20) cost of a coffee in Perth.

ECU's study, "The impact of the mining boom on the dining industry in Western Australia" found the state's dining boom was almost double what was experienced in the rest of the country during the period.

"The mining boom accounted for more than half of the growth in the dining industry during this time, with the remainder attributable to growth that would have occurred anyway," ECU's School of Business and Law Professor of Finance Robert Powell said.

Researchers found the dining industry saw a further A$900 million (US$691 million) boost attributable to factors such as a growing coffee culture (despite the cost!), the proliferation of small bars, busier lifestyles and food fashion, including the rise of cooking shows and dining apps.

Powell said the research demonstrated a strong link between mining and dining; and with dining industry jobs falling by 5% in 2016 post-boom, it indicated WA needed to diversify its economic base.

As for how the mining/dining scenario is set to play out in 2018, Powell said while the mining industry showed an improved gross value add contribution to the WA economy in 2017, the dining industry showed a negative contribution to economic growth as it continued to adjust to the end of the mining boom.

"There is unlikely to be any major turnaround in the dining industry in 2018 as it would probably need a sustained improvement in the mining industry to achieve this," he told Mining Journal.

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