A'Ohlin Commercial Insights

Sunshine Coast – 2013 State of Play

Widening gap between the economic performance of Queensland and the sum for all Australian states and territories. The Sunshine Coast economy is failing to productively generate economic growth. Whilst Nominal GRP increased, Real GRP decreased over the period. However jobs increased at a greater rate than population; it appears this additional man power is yet to create any real economic benefit.

Some updated data for your consideration:

ABS Regional Labour Force data to February 2013 show that the Sunshine Coast’s unemployment and employment rates have both worsened into 2013. Regional Employment peaked at just over 165,000 in late 2010 and was sitting at around 150,000 in early 2013; a 10% decline. Regional Unemployment for the same period in late 2010 was around 4.5% whilst in February 2013 it had climbed to above 7%.

Other than Tourism, industries driving the Coast should be considered from 2 perspectives:
1. historical and current situation
2. future plans
Using Employment as an economic driver (we could also use revenue contributed) and looking at the current situation first:

• Tourism was/is clearly the leader with just over 30,000 people employed in Feb 2013 (no surprises here).
• Health & Community Services employed close to 35,000
• Construction just over 15,000
• Mining nearly 5,500
• Agriculture employed about 1,500

It is also worth noting that the share of Professionals & Managers has dropped from nearly 40% in May 2012 to around 33% in February 2013.

Now let’s take a peek into the future and see what our Council’s grand plan is.

Between 2013 and 2016 the following are priority areas:

• Food futures – an agri-food connection project
• Infrastructure projects including:
  • Health hub precinct
  • Bruce highway upgrade (advocacy of – don’t hold your breath as we didn’t a mention in the recent round of Federal funding !!)
  • Integrated infrastructure network (i.e. public transport including rail, light rail, and roads)
  • High speed broadband
  • Undersea fibre optic cabling
  • Digital Futures planning & digital work hub
  • Airport upgrade
  • Maroochydore Principal Activity Centre
  • Community arts & entertainment infrastructure
• Clean-technologies industry
• Education

I, for one, want to stay on the Coast and I want to see our region prosper.

We are on the right track and I fully support our new economic initiatives.

Go the Sunshine Coast.