How Much Revenue Does Tourism Bring In To The Gold Coast?

This report by Tourism Research Australia provides a comprehensive account of the direct and indirect contribution that tourism makes to the Gold Coast’s economy. It includes key indicators such as tourism consumption, output, and the impact of the industry on the local economy. Australian tourists poured a record $6.1 billion into the Gold Coast economy in 2022, a significant increase from the previous year. Over the 12 months leading up to December 2022, the Gold Coast welcomed a record-breaking 11.4 million domestic overnight and day trip visitors, injecting a boost to the economy.

The Gold Coast Tourism Board was modelled after the one used in Hawaii, and China is now the biggest international market, with more than a million visitors. In the 12 months to December, the Gold Coast generated $7.8 billion in total visitor expenditure and welcomed 12.2 million total visitors, up 31.1%. Tourism contributes about $4.7 billion to the Gold Coast economy, with domestic overnight visitor expenditure reaching a record $5.1 billion in the year ending December 2022.

In 2019, the Gold Coast tourism industry contributed $5.9 billion into the local economy, welcoming 14.2 million guests annually. International visitors contribute an average daily expenditure of AUD 150, while their domestic counterparts spend an average of AUD 200 per day. In the year ending September 2022, the Gold Coast’s domestic Overnight Visitor Expenditure reached a record $4.2 billion, a 13.9% increase.

The report highlights the importance of tourism in the Gold Coast economy, with the industry supporting 42,000 jobs and contributing to the local economy. Queensland’s tourism industry is a $31 billion industry for the state, with domestic and international visitors spending $93.2 million per day.

Why is Gold Coast so popular?

The Gold Coast, a popular holiday destination in Australia, is renowned for its magnificent beaches, exhilarating surf breaks, theme parks, shopping, vibrant nightlife, and diverse hinterland, which have collectively attracted families for decades.

Which city makes most money from tourism?

Paris, Bangkok, London, Dubai, and New York City represent the most lucrative tourism destinations globally.

What is the Gold Coast economy worth?

The Gold Coast, Australia’s sixth-largest city, is experiencing strong economic growth and a low unemployment rate of 2. 7. With a economy worth over $40 billion, it is a business hub with a vibrant dining scene, nightlife, and friendly neighborhoods. The Gold Coast is known for its warm climate, beautiful white sandy beaches, and diverse industries. It is also ranked among the top 100 best student cities to live in, the 26th top sporting city globally, and the most biologically diverse city in Australia. The city’s diverse range of industries supports its economy and attracts a diverse range of visitors.

Who profits the most from tourism?

The US leads the travel and tourism market in revenue with 204. 45 billion U. S. dollars, followed by China with 149. 18 billion U. S. dollars, and Canada with 16. 75 billion U. S. dollars, resulting in a difference of 187. 7 billion U. S. dollars. Other insights include a ranking by country regarding revenue in the market and a subsegment in the Netherlands’ Cruises segment. Statista Market Insights covers a wide range of markets.

How much is the Gold Coast economy worth?

Gold Coast City’s Gross Regional Product is estimated at $45. 38 billion, accounting for 9. 76 percent of the state’s Gross State Product. The city’s economic profile provides information on its role within the economy, potential for economic development, and its strengths, sourced from official sources like the Australian Bureau of Statistics and leading economic modelers like NIEIR.

How does the Gold Coast affect tourism?

In 2019, the Gold Coast tourism industry generated a contribution of $5. 9 billion to the local economy, while welcoming 14 million visitors. On average, 2 million guests visit the area annually, and the industry supports over 44, 000 jobs across 4, 600 tourism businesses.

What are the economic activities of the Gold Coast?

The Gold Coast, Australia, has a diverse economy with a GDP of AU$ 45. 3 billion as of 2023. It is a cultural and creative hotspot, with a growing video games industry and leading Australia in startups per capita. The city is central to the nation’s entertainment industry, with a major film and television production industry, leading to its nickname, Goldywood. The Gold Coast is also the host of the AACTA Awards and the Gold Coast Film Festival. It is a major tourist destination known for its sunny, subtropical climate, surfing beaches, high-rise skyline, theme parks, nightlife, and rainforest hinterland.

The Gold Coast is the ancestral home of several Indigenous Yugambeh clans, including the Kombumerri, Mununjali, and Wangerriburra clans. Europeans arrived in 1823 when explorer John Oxley landed at Mermaid Beach, and the region’s red cedar supply attracted people in the mid-19th century.

How much money do we make from tourism?

India’s international tourism revenue exhibited a notable increase from 8. 7 billion U. S. dollars in 2021 to 16. 92 billion U. S. dollars in 2022. Access to the free statistics is available for a fee of $1, 788 USD per year, with the premium statistics not included. An annual contract is a prerequisite for access, with the contract period commencing on the date of purchase and expiring one year later.

How much money does Australia make off tourism?

Australia’s direct tourism GDP increased to approximately 57 billion Australian dollars in the year ending June 2023, marking a continuation of the tourism GDP recovery that was lower in recent years due to the coronavirus pandemic. The financial years for Australia’s financial years run from July to June, with the 2017 financial year starting on July 1, 2016 and ending on June 30, 2017.

What is the main source of income in the Gold Coast?

The analysis of Gold Coast City’s output by industry sectors in 2022/23 reveals that construction, manufacturing, and rental, hiring, and real estate services were the three largest sectors. Construction generated the largest output, totaling $16, 302 million. The output by industry is a gross measure of total sales, not value added. To understand the structure of Gold Coast City’s economy, it is important to compare each sector’s contribution to the total output to a regional benchmark or use a location quotient. A higher number indicates a higher concentration of that industry, while a lower number indicates a lower concentration.

What is the average income in Gold Coast?

The 2016 Census of Population and Housing in Australia revealed that the median total family income in Gold was $86, 060 per year, with 9. 1% of 13, 525 families classified as low-income.