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

                                                   NOOSA LEP REVIEW - ECONOMIC ANALYSIS REPORT - Draft Report


Figure 2.3. Projected Age Structure, Noosa
                     70,000


                     60,000


                     50,000
  Population (no.)




                     40,000


                     30,000


                     20,000


                     10,000


                         0
                              2016          2021            2026           2031       2036     2041
                                     0-14           15-24          25-44          45-64      65+
Source: QGSO (2021).


2.3                      Income
The Noosa region’s median weekly personal and household income levels were both significantly
lower than the Queensland medians from 2006 to 2016. This is likely due to Noosa’s reliance on the
local tourism sector (retail trade and accommodation and food services), which is generally a lower
paying sector for workers. However, on a positive note, average annual growth in household median
weekly income from 2011-2016 in the Noosa region (4.6%) was stronger than the Queensland (2.6%)
average (Table 2.2).
Median household income is an important measure for standard of living. Household income levels
in the Noosa region have grown at a faster rate than inflation (1.8% from June quarter 2011 to June
quarter 2016), providing real income gains for residents.
As with the age demographics, this data is Census based, so changes in 2021 will be interesting to
observe. It is not expected that median incomes in Noosa will raise above the Queensland average.
Table 2.2. Median Income
                       2006                        2011        2016
 Personal income ($/week)
 Noosa                 $422                        $506        $595
 Greater Brisbane      $509                        $633        $703
 Queensland            $476                        $587        $660
 Household income ($/week)
 Noosa                 $884                         $953      $1,191
 Greater Brisbane     $1,112                       $1,385     $1,559
 Queensland           $1,036                       $1,227     $1,392
Note: Census data not available for the South East Queensland region.
Source: ABS (2017).




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