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Welcome to the third edition of the City Economic Update where we provide important data and relevant information for local businesses.
In this edition we cover:
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Strong performance in GRP per Capita
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Recovery in tourism numbers
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Update from our Business Engagement Officer
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Export Opportunities in Indonesia
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City of Gold Coast stories and updates
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Upcoming events - Gold Coast Business Week 2022 and more.
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Economic and research updates
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Strong performance in GRP per Capita
A recent analysis of the Gold Coast's average income per person relative to the Brisbane Local Government Area (LGA) is demonstrated in the graph below. Highlighted over the assessed timeframe is the competitiveness and high living standards of the Gold Coast.
Average income has been calculated by dividing GRP by the residential population.
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Source: City of Gold Coast estimates based on ABS (2022) and economy.id (2022)
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Recovery in tourism numbers
Research has shown the number of visitors to the Gold Coast is recovering. Post the partial and full re-opening of international borders, the chart below shows visitor numbers (domestic day trip, domestic overnight and international) are improving.
Tourism Research Australia's annual State of the Industry report presents a snapshot of Australia's tourism industry in 2021.
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Source: Tourism Research Australia (2022)
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Update from our Business Engagement Officer
"With the recently completed place-based engagement in the Coolangatta - Kirra region, focus now shifts to Currumbin," said Chris Marsh.
Starting September, the Economic Research and Engagement team at the City will work with the Currumbin business community to better understand the pressing challenges and opportunities of doing business in the Currumbin precinct. If you are a business in the precinct, we welcome your feedback or e-mail Chris to find out more.
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Create new opportunities through workforce sharing
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Have you registered for the portal?
The GCB Portal allows businesses to create new opportunities through workforce sharing.
It’s an innovative way to increase revenue and address workforce challenges.
It's free to sign-up and free to start matching.
The concierge support service provides any personalised support you need for signing up and registering, go to gcbportal.com.au
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Business subsidy & program opportunities
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Local businesses subsidies and programs snapshot. For more information follow the links below:
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City of Gold Coast stories and updates
Featuring some of the Gold Coast's great businesses, we ask them to share insights and industry trends.
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Fika Entertainment: Revolutionising Your Storytelling
Fika Entertainment is revolutionising storytelling through virtual production, real-time animation and real-time visual effects. Their Burleigh studio has a crew of 35 employees...and is growing.
We ask Kris Maric, CEO and Executive Producer about engaging with the City and being a recipient of the Screen Attraction Program.
Why the Gold Coast?
There are so many fabulous reasons why the Gold Coast is a premium location to do business. There are great incentives and business support via state and local government for the creative industries. When Fika Entertainment was initially established, a market scan was done to ascertain where would be a great spot for the company to settle roots. Queensland and the Gold Coast had come up as one of the primary contenders on this front, plus the Gold Coast appeals to top notch talent in terms of recruitment. Our staff (current and future prospects) are interested in living somewhere that supports a great work/life balance where they can enjoy the spoils of what the Gold Coast has to offer and (if applicable) raise their families here.
Read the full story
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5ex Naked Springwater
5ex Naked Springwater manufactures stop-tops that prevent drink spiking.
We ask Kate Turner about insights on industry trends and what's next for her new business.
A key discovery in the past three months that has helped your business?
Confidence. I took a course in stand-up comedy with local comedian Fiona McGary! Yes, talk about terrifying. I did a full stand-up gig at the sit down comedy club in Brisbane, 15 minutes on stage! Seriously, everything after that (e.g. walking into a café and selling 5ex) was easy. And just keep going…momentum is everything.
Read full story here
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Australia’s own ‘Silicon Beach’
Are you a software engineer or data specialist?
Westpac has officially opened a new technology engineering hub on the Gold Coast. The hub is set to create up to 200 new jobs over the next few years. Study Gold Coast and local universities will work with the hub to establish a pipeline of graduate students for the hub.
Learn more about the hub.
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Surging demand in Yatala
Are you looking for industrial land?
Large infrastructure projects across Australia’s east coast have created an explosion in companies expanding or moving their operations to South East Queensland. Yatala Enterprise Area is leading the boom on the Gold Coast.
Learn more about Yatala Enterprise Area.
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Council Plan 2022-2027
The City's Council Plan 2022-2027 supports the implementation of the City Vision and is structured around the 6 Gold Coast 2032 themes. It describes the priority outcomes we are working towards and our measures of success over a 5-year period.
Watch the Mayor's introduction to the Council Plan 2022-2027.
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Upcoming events
GOLD COAST BUSINESS WEEK 2022 (GCBW2022)
29 August - 2 September 2022
GCBW2022 will connect leaders, professionals and entrepreneurs across the Gold Coast. In our post-COVID landscape we will present emerging trends, innovations and provide opportunities to grow your business.
Register now (places are limited)
2022 ELITE SPORTS CONFERENCE
13 - 15 September 2022
Proudly supported by the City of Gold Coast, the 2022 Gold Coast Elite Sports Conference will take place over three days and is an online & face-to-face hybrid event.
Register now
Check out other events within the City of Gold Coast, by clicking here.
Are you a local business? Register your event here.
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Manufacturing Report Revision
Please note that following a review, various corrections have been made to our Gold Coast Manufacturing Insights 2021 report (incorrect data was supplied by economy.id) and a new version is now available.
The amended report was published on 4 July 2022 and replaces in full the previous report uploaded on 15 February 2022.
Our follow-up report, Gold Coast Manufacturing Insights 2022, is due for release soon.
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Privacy notice
Council of the City of Gold Coast (Council) is collecting your personal information in order to provide the services requested, perform associated Council functions and services, and to update and maintain Council's customer information records. Your subscription to these eNewsletters is voluntary. City of Gold Coast eNewsletters are distributed using Campaign Monitor, an Australian company with servers in the United States of America (USA). Information you provide when you subscribe will be transferred to Campaign Monitor's server in the USA. By subscribing, you agree to this transfer. Your information is handled in accordance with the Information Privacy Act 2009 (Qld) and may only be accessed by Councillors, Council employees and authorised contractors. Unless authorised or required by law, we will not provide your personal information to any other person
or agency.
For further information go to cityofgoldcoast.com.au/privacy. You can unsubscribe at any time using the link below.
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