Something to consider with Newcastle is what the incoming reduction in demand for coal will do to the economy there. China is the biggest coal market, but it's expected to peak in coal demand in 2025 and reduce from there. They're investing massively in renewables to wean themselves off imported coal. Once energy storage becomes more effective, I can see a big reduction in coal demand.
I don't think that will mean complete devastation for Newcastle or anything, after all they survived the closure of the steel industry. But it may hamper the economy there for up to a decade, and that will reduce people's capacity to spend.
I don't think that will mean complete devastation for Newcastle or anything, after all they survived the closure of the steel industry. But it may hamper the economy there for up to a decade, and that will reduce people's capacity to spend.