2022-11-14 GC Agenda - Item 4 - Attachment 1 - Short Term Accommodation Monitoring Report 2022

       income ratio of the State) and residential vacancies have been below 1% for most of
       2021.
       Some businesses are reporting staff shortages, while at the same time experiencing
       strong trading conditions.

Transitioning to a “smart biosphere” is identified as the evolution of economic development for
Noosa Shire with activities, interventions, and decisions being future focused; people and
place centric; and evidence based. The Strategy focusses on economic growth enablers and
the philosophy that bold leadership, strong business ecosystems, investment in enabling
infrastructure and a culture of entrepreneurship are the very foundation of a strong, healthy,
sustainable and resilient local economy.
Ultimately the strategy seeks a sustainable, diverse and resilient local economy less reliant on
volatile industries, such as retail and tourism.
A Destination Management Plan (DMP) will also be prepared to manage the effects of tourism
in Noosa, The Strategy stating that a well managed destination protects and preserve their
assets, attracts investment, meets workforce needs and has increased levels of innovation.


3.4.1.1 COVID 19
Noosa Shire’s Economic Development Strategy 2021-2030 identified impacts from COVID19
that are expected to have a significant influence on the economic and employment
environment now and into the future. Significant changes for business, technology and mobility
are described below:
Business
      Accelerated ecommerce – changes to the way we purchase as the surge in online
       shopping demonstrates.
      Changes to the way we work – McKinsey & Co. estimated that more than 20% of the
       global workforce (most of which are in high skilled jobs), could work remotely.
      Tech upskilling – with these changes to the way we work comes the challenge of
       workforce adaptation and ensuring strong technology skills across the board.
      The rise of regions – ‘safe’ locations has seen population and demographic change.
      The importance of being agile – moving fast, being able to pivot and restructuring in
       order to build resilience is a fact of life in the Covid world.
      Profit for purpose – this crisis has emphasised the interconnectedness of businesses
       and their community which has seen an increasing trend in business where there is
       profit with a sense of purpose.
      Climate action drives recovery – Governments across the world are firmly and
       decisively putting climate
      and environmental action at the heart of their recovery plans, investing heavily to
       stimulate action.
      Changing travel behaviours and latent pent up travel demand in response to closed
       international borders.
Technology
      Covid-19 has sparked a wave of innovation, tremendous growth in digitisation and
       accelerated the rate of digital transformation as businesses strive to improve
       operations



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Noosa Council Monitoring Report 2022/23