2020-01-13 GC Agenda - Item 10 - Attachment 2 - The Value of Tourism to the Noosa Community October 2019 FINAL REPORT

Table 14: Summary of Noosa’s Economic Benefits associated with Tourism

 Potential Economic          Evidence of Benefit in Noosa:
 Benefits                    Results from Analyses

 •   Considerable value      üüü      •   Economic Analysis: The analysis completed from the id modelling
     added to an economy                  by SGS Economics and Planning indicated that tourism is the
                                          highest earning sector in Noosa’s economy. Tourism provides a
                                          substantial number of jobs and indirectly creates value to a
                                          number of other industries.
                                      •   Business Survey: Most within the business community who
 •   The creation of jobs    üüü          participated in the survey acknowledged the importance of
                                          tourism to the economy and the importance of it to job creation /
                                          retention, regardless of whether the businesses were directly
                                          impacted by tourism or indirectly impacted by tourism. Over 75
                                          percent of businesses indicated that their profitability would be
                                          negatively impacted if tourism was to decrease, and of these 42
 •   Indirect benefits to    üüü
     suppliers and flow on                percent indicated that if tourism was not present, they would not
     impacts of wages and                 be operating. Coastal and suburban businesses, on average, also
     spending throughout                  acknowledged that because of tourism the Council and private
     the economy                          industries invested more in Noosa. No mention of international
                                          connections was made by any sector of the business community,
                                          and this could be an area for highlighting into the future.
                                      •   Resident Survey: The survey respondents from the resident
                                          survey acknowledged the considerable contribution of tourism to
                                          the economy of Noosa, with over 80 percent of residents indicated
 •   Provision of            üü
     international                        that they approved of tourism due to the wider benefits it brings.
     connections, which                   On the contrary, only 14 percent disapproved of tourism.
     can create further               •   Visitors Survey: Questions regarding expenditure by visitors were
     business, interaction                asked and results showed that considerable direct spends are
     and learning                         made by tourists. The information indicated that the TRA research
     opportunities.                       on spend by visitors may be conservative.
                                      •   Impact of events: Most businesses that were likely to be directly
                                          impacted by tourism indicated that events produced positive
                                          impacts on their turnover. On average, these businesses indicated
                                          that in an event period, their turnover could increase by around 25
                                          percent. Only a small proportion of businesses indicated negative
                                          impacts, and most of those businesses indirectly impacted by
                                          tourism indicated that events had little impact on their turnover.




                                               51