The Gold Coast, located in the Australian state of Queensland, is a city popular for its tourism and ever-growing economy. Starting from being a small beachside holiday destination, it has grown exponentially to become Australia’s sixth largest city. A success that massive and accelerated for a single city would mean that businesses also grow at an exponential rate.
Industries for Business
Gross Regional Product for the city has risen for a total of 61% from 2001-2008. Businesses that contribute to success this big is based largely on tourism. This holds true up until now but with recent improvements, various industries have also contributed to the city’s economic prosperity. Tourism may play a big role among the major industries, but it is not the only source of glory.
The city is blessed with plenty of natural and manmade wonders. This type of opportunity offers one job out of every four and contributes more than 4.4 billion dollars of the city’s total economy. The tourism industry of Gold Coast attracts approximately 849 114 international visitors, 3 468 000 domestic overnight visitors, and 5 366 000 day-trip visitors.
Award-Winning Business Ventures
An annual awarding of Gold Coast’s top business is celebrated in order to give recognition to the top businesses for the year. For the year 2018, it has been proved that not only tourism has got a say in the business world. In the top 50, tourism now only ranks fourth among the dominant groups. As of the moment, retail, and services sector has come out on top, followed by property and construction, then marine industry, engineering firms and specialist food products.
There is a change in the ranking of this year’s companies because of various reasons. The popularly large and iconic brand Billabong has been replaced because of a shift in the headquarters of the company. This also holds true for action-wear retailer SurfStitch which has been bumped off of the list after falling into the hands of a New Zealand online group.
Despite this, analysts and experts proclaim that this changeup is only proof that the Gold Coast is indeed showing signs of being the region’s vibrant business community. The old pioneer businesses might have been replaced by the new ones, but it is all good for business. The more diverse, the better.
A Word to the Wise
Health and Fitness top awardee Tomas Steenackers shared a few thoughts during an interview after receiving the award. He gave importance to technology and emphasized that it is a vital part of the success of his company. Getting a strong social media following, creating a dependable website, and using various search engine optimization or SEO companies will boost all businesses, big or small. Integrating technology in order to create innovative systems is also a surefire way to propel business success.
The Gold Coast is a global city proudly looking towards its future. The city will continue to expand and grow in its international trade and investment, as it aims to raise its global profile as an emerging business destination. They have also developed an Investment Attraction program to encourage new businesses to invest in the city. This will then strengthen the city’s international networks, as well as increase export base and inward investment. There is nowhere to go but up for the city of Gold Coast.