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2021-12-13 GC Agenda - Item 9 - Attachment 2-Noosa Economic Plan Review Update Report 2021
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Log in to see the plans as drawn NOOSA LEP REVIEW - ECONOMIC ANALYSIS REPORT - Draft Report
7. Competitive Advantages and Opportunities
Identifying Competitive Advantages
Identifying and leveraging competitive advantages is important for successful economic
development efforts at the local level. Competitive advantages can exist in many forms including
location, natural resources, industry specialisation and/or infrastructure. This section seeks to
identify the unique competitive advantages of the Noosa region using various analytical
techniques, including:
• Location quotient analysis
• Cluster mapping
This analysis will identify various industry opportunities for the Noosa region to be tested and
verified through consultation.
The following graphs show Noosa’s competitive advantages by industry due to local employment
specialisation. Essentially, the location quotients show the proportion of workers in individual
industries with the ‘1’ line representing parity with Queensland. Industries showing a specialisation
above the ‘1’ line indicate areas of natural competitive advantage.
The analysis shows the natural competitive advantages for Noosa are centred on tourism-linked
industries including accommodation and food services, rental, hiring and real estate services, arts
and recreation services and retail trade. Further Noosa also has a strong competitive advantage in
the construction industry.
Figure 7.1. Employment Location Quotients, Noosa (benchmarked to Queensland), 2019-20
Agriculture, Forestry and Fishing
Mining
Manufacturing
Electricity, Gas, Water and Waste Services
Construction
Wholesale Trade
Retail Trade
Accommodation and Food Services
Transport, Postal and Warehousing
Information Media and Telecommunications
Financial and Insurance Services
Rental, Hiring and Real Estate Services
Professional, Scientific and Technical Services
Administrative and Support Services
Public Administration and Safety
Education and Training
Health Care and Social Assistance
Arts and Recreation Services
Other Services
0.0 0.5 1.0 1.5 2.0 2.5
Location Quotient
Source: economyID (2021).
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