MCU10/2083 Development Application part 2 - Attachment 4 - Economic Impact and Need Assessment

           visitors to the Noosaville area are estimated at 10% of the total day visitor
           population on the Sunshine Coast, on par with the proportion of overnight
           visitors. Thus, some $32.6 million in retail spending is potentially available to
           Noosaville business, comprising:
                 •    $6.0 million generated by domestic visitors (staying in both commercial
                      accommodation and private accommodation);
                 •    $0.6 million generated by international visitors (staying in both
                      commercial and private accommodation); and
                 •    $26.0 million generated by day visitors.
           Assuming a modest 1% per annum growth in visitor retail expenditure over the
           2010 to 2017 forecast period, future expenditure available to Noosaville
           retailers could increase from the current estimated $32.6 million to:
                 •    $33.6 million at 2013, the first year of trading for Noosaville
                      convenience retail centre;
                 •    $34.3 million at 2015.
                 •    $35.0 million at 2017.
           Thus local visitors generate a large pool of retail expenditure. However, it
           should be noted that not all of this available spending will be directed to the
           subject proposal with other retail centres including those in Noosa and further
           afield at Maroochydore and the Sunshine Coast Hinterland attracting a share of
           the total spending available.

3.6         TOTAL EXPENDITURE POTENTIAL

           Total expenditure potential by the trade area resident and visitor markets is set
           out in Table 3.6 below.

           Table 3.6:      Retail expenditure potential available from resident and visitor
                           markets, 2010-2017 (2009 $ values)
                                                Resident ($m)             Visitor ($m)   Total ($m)
             2010                                         59.4                   32.6          92.0
             2013                                         62.1                   33.6          95.7
             2015                                         64.2                   34.3          98.5
             2017                                         66.0                   35.0         101.0


             Increase 2010-2013                              2.6                  1.0           3.6
             Increase 2013-2017                              4.0                  1.4           5.4
             Total                                           6.6                  2.4           9.0

           Source: Tables 3.4 and 3.5; Foresight Partners calculations.

           At June 2010, these markets collectively generated an estimated $92.0 million
           in retail sales potential. This is forecast to increase to:
                 •    $95.7 million by June 2013 (first full year of trading);

Noosaville Convenience Centre EIA
10034 Rev 1
19 October 2010                                         25