2021-12-13 GC Agenda - Item 9 - Attachment 2-Noosa Economic Plan Review Update Report 2021

                                                   NOOSA LEP REVIEW - ECONOMIC ANALYSIS REPORT - Draft Report



2.                       Population and Demographics
2.1                      Population
Noosa had an estimated resident population of 56,600 persons as of June 30, 2020 (Figure 2.1).
Noosa’s population growth has consistently been slower than the South East Queensland and
Queensland averages over the past 15 years. Noosa’s population growth has averaged 1.1% over the
five years to 2020, below the South East Queensland (2.1%) and Queensland (1.6%) averages.
Interestingly, population growth accelerated in Noosa in 2020 during the COVID-19 pandemic, in
contrast to the Queensland average. Lifestyle factors and the shift towards work-from-home
arrangements were likely key drivers of this accelerated growth.
Figure 2.1. Historical Population
                     60,000                                                                            4%




                     45,000                                                                            3%




                                                                                                            Population growth
  Population (no.)




                     30,000                                                                            2%




                     15,000                                                                            1%




                         0                                                                             0%
                              2002   2004   2006   2008   2010   2012     2014    2016   2018   2020

                                Noosa       Noosa (%)      South East Queensland (%)      Queensland (%)

Note: ERP at 30 June of each year.
Source: ABS (2021).


 Population Matters
 Population growth is important to support economic growth in the local area. An increasing
 number of local residents will increase demand for a range of products and services offered from
 local businesses. Roughly one-third of the economy is directly related to local residents and
 includes local services such as retail trade, education, healthcare and others. However, given the
 slower population growth that Noosa has experienced when compared to the state average,
 economic growth will need to come from other sources such as increased investment in the high
 value industry sectors and / or the adoption of improved technology.




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