Gold Coast accommodation revenue exceeds other cities

The Gold Coast is recovering well, posting larger revenue margins relative to other cities across Australia in the accommodation space. Strong recovery in this sector will help boost growth in the Gold Coast's Gross Regional Product and have positive onflow effects for the overall economy.

As per the latest Australian Accommodation Monitor report, the Gold Coast recorded the highest revenue per available room (RevPAR) in 2021-22 relative to other cities measured, with RevPAR of $135 being above the averages recorded in Brisbane, Melbourne, and Sydney. Although the Gold Coast's RevPAR is up from $106 in 2020-21, this figure is still below pre-COVID levels.

Higher RevPAR in the Gold Coast is reflective of strong demand, with room nights occupied (demand) increasing between 2020-21 and 2021-22; and room nights available (supply) declining between 2020-21 and 2021-22. RevPAR is calculated by multiplying a hotel's average daily room rate by its occupancy rate or by dividing total room revenue by the total number of rooms available in the period being measured.

Seven percent growth in total businesses on the Gold Coast

Another key indicator of strong economic growth is the number of registered businesses within the Gold Coast. Registered businesses have grown from over 71,000 in 2021 to over 76,000 in 2022, according to data released by the Australian Bureau of Statistics. In 2022, 60% of registered businesses were self-employed. Only 69 registered businesses within the Gold Coast had 200+ employees (or 0.1%). In sector terms, construction accounted for 19% or over 14,000 of all registered businesses.

Upcoming events

E2E SUMMIT

16 - 17 February 2023

Business News Australia are excited to be hosting their inaugural E2E Summit (Entrepreneur-to-Entrepreneur) on 16-17 February in Sydney, bringing together some of the nation’s top business minds.

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ACCESSIBLE & INCLUSIVE TOURISM CONFERENCE ASIA PACIFIC

28 April 2023

A yearly event that provides all tourism stakeholders with an opportunity to: learn how to cater to the valuable accessible & inclusive market to promote sustainable growth; and connect with each other to create momentum and contribute to the upgrowth of the sector.

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AUSTRALIAN TOURISM EXCHANGE

30 April to 4 May 2023

The 43rd edition of the Australian tourism industry’s largest annual business-to-business event, the Australian Tourism Exchange (ATE23) will return to its traditional format; a four-day event, scheduled to take place at the Gold Coast Convention and Exhibition Centre, after two years of condensed hybrid events.

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SCREEN FOREVER 37

3 - 5 May 2023

For 37 years, SCREEN FOREVER has developed an unrivalled ability to unite the sector and provide a world class platform to champion the talent, passion and achievements of the Australian screen industry, providing a vital forum for discussion and debate on the issues and challenges that affect screen business.

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SANCTUARY COVE INTERNATIONAL BOAT SHOW

25 to 28 May 2023

The Sanctuary Cove International Boat Show is an unmissable boating lifestyle event showcasing marine products from the luxury lifestyle of the superyacht set to the family fun of messing around with everything on, under and around the water. The latest-and-greatest boating tech and equipment from 300 exhibitors, 600 boats and 45,000 visitors make this Australia’s biggest celebration of lifestyles that are exotic and aquatic.

Find out more

THE PIE LIVE: AUSTRALIA

25 - 26 July 2023

The PIE Live: Australia will take place on 25-26 July 2023 at the Gold Coast Convention and Exhibition Centre. The conference offers expert insights on current hot topics in global education and extensive networking opportunities.

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Check out other events within the City of Gold Coast, by clicking here.

Business Programs & Support

Local businesses programs, schemes and support snapshot. For more information follow the links below:

• Certain Inputs to Manufacture (CIM) - helps reduce importing costs for Australian manufacturers of eligible goods.
• Concessions on goods for space projects - helps companies wanting to develop high technology for the space sector.
• Digital Growth Program for the Accommodation Sector (Round 4 opens soon) - a customised training and development program delivered by Talk Agency, one of Australia's leading digital marketing agencies.
• Digital Solutions: Australian Small Business Advisory Services - the Digital Solutions program works with you to adopt digital tools to save you time and money, and to help grow your business.
• Export Assistance Scheme - financial support for both existing and emerging exporters who are export ready. The program is designed to alleviate the financial burden of exporting when undertaking overseas travel. To find out more about the export support services offered, contact export@goldcoast.qld.gov.au

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