Property magnate Con Makris is Australia’s first Greek immigrant billionaire.
After arriving here has a teenager he pulled himself up by his bootstraps through his investments. He is concerned, however, about the ability of future generations to work for their success.
In an interview with The Australian Financial Review, Makris has shared some concerns not dissimilar to Joe Hockey’s warnings about the “age of entitlement”. From the Fin:
“The country has been breeding bludgers,” he says.
“I truly believe, 100 per cent that Australia has lost its hard work ethic,” Makris says.
“Too many people are looking for a lifestyle. They want to go to Byron Bay and those sort of places and sit in the sun all day.”
Certainly, Australia’s workforce is changing. There has been a steady rise in the age at which people engage in the workforce; the underemployment rate among 15 to 24-year-olds rose steadily from around 3% in the late 1970s to over 13% in 2010.
Byron Bay, however, is building a reputation as a place where incredibly successful people spend their weekends in their hard-earned beach homes. If you want to enjoy some lifestyle, there’s Gerry Harvey’s The Byron at Byron, where you can stay for $600 a night and enjoy a Grilled New England sirloin steak with pommes boulangére and smoked leeks for $40 as a main for dinner.
Maybe the bludgers will have to settle for Tweed Heads instead.
NOW WATCH: Briefing videos
Business Insider Emails & Alerts
Site highlights each day to your inbox.