Australia's Massive Fires Threaten To Slow Decades-Long Economic Boom
Australia hasn't had a recession in nearly 30 years, an impressive track record for an industrialized county. But the fires threaten two pillars of the country's economy.
Australia calls itself the Lucky Country, a nation so fortunate in geography and natural resources that it hasn't had a recession in nearly three decades.
But the deadly wildfires raging through large parts of the country are slowing tourism and other key sectors that contribute to its impressive economic growth.
"Just the area of Australia that's now impacted is unheard of. So we are in uncertain territory," says Martin North, principal at the research firm Digital
