Appendix G Economic Study - 14-16 Mary Street, Noosaville - Bounce Hostels 15.6.2018

overcome challenges and address threats. In terms of challenges, the following two
are the most relevant in terms of the proposed development:
•   Lack of availability of short-term room stock. The proposed development
    specifically contributes towards increasing the availability of short-term room stock;
    and
•   Degree of seasonality peaks and lows. The target market (backpacking / adventure
    tourism) can contribute to filling lows when cost of travel – including
    accommodation – is relatively low.
By contributing to the region’s ability to addressing these challenges, the proposed
development also goes towards supporting Noosa’s ability to address potential threats
including:
•   Increasing competition from destinations that are re-investing in their product. The
    proposed development adds new infrastructure to the region, and contributes to
    the ongoing enrichment of the overall tourism product offer from the region.
•   Lack of investment in new and existing product, particularly accommodation. The
    proposed development directly contributes to new accommodation product.
The proposed development also contributes towards the realization of opportunities
identified in the Tourism Strategy, including the following:
•   Promote the range of hinterland, nature-based and adventure experiences to help
    disperse visitors throughout the region. By increasing the availability of
    accommodation targeted at the backpacker / adventure traveler market, the
    proposed development contributes to the overall infrastructure necessary to attract
    a broader-based of visitation.
•   Balance visitor numbers between segments. The proposed development is
    focused on a particular market segment, which can contribute to the overall
    broadening of the visitor demographic base.
•   Capitalise on the emerging youth influence bringing new business. The proposed
    development’s target audience is likely to have a significant representation from
    the youth segment.

2.3 Noosa Shire Local Economic Plan
Noosa is well-positioned to capitalise on the growing opportunities in national
(domestic) and international visitations to Australia. Noosa is already recognised as a


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