Economic Report · MCU18/0019

Noosa is demographically speaking at the leading edge of the ageing curve. This
provides a basis for the development of higher order expertise in what is a rapidly
expanding and evolving industry. As noted in the Noosa Shire Local Economic Plan:
       “Noosa has an ageing population. In 2011 the median age for the Shire was
       46 years compared to 38 and 36 years in the South East Queensland Region
       and the State respectively” (p. 5).
Since the 2011 Census, Noosa’s median age has increased from 46 years to 48
years, reflecting a higher than average rate of population ageing.
The Noosa Shire Local Economic Plan seeks to support the diversification of the
structure of the local economy and “grow smart, high value industry sectors”. It
aims to “encourage business growth in sectors that provide a wider range of
employment opportunities and pay scales” and “leverage local expertise to support
the diversification of the local economy” (p. 12).
The Noosa Shire Local Economic Plan recognises the opportunity for the region to
develop this industry. Indeed, according to the Plan, healthcare and wellness are
“recognised as priority industry sectors of competitive advantage” (p. 5). Aged care
and retirement living was specifically identified as a sector of opportunity to diversify
the region’s economic base (p. 9). Consequently, the annual implementation plan for
this sector will include initiatives that aim to facilitate increased:
•   Employment and career opportunities;
•   Business activity;
•   Collaboration and clustering; and
•   Education and training opportunities (p. 17).
The Noosa Shire Economic Plan notes that the “health and wellness sector:
•   Is growing strongly locally, regionally and nationally;
•   Ageing population will stimulate need / demand for services in this sector;
•   Has been identified as a future driver of innovation and technology;
•   Provides a range of employment opportunities;
•   Has direct links to education and training opportunities; and
•   Supports local wellness, revitalisation and remedial businesses and the healthy
    lifestyle appeal of the area” (p. 16).
The Noosa Shire Local Economic Plan goes on to observe that this:
       “sector is trending positive locally, regionally and nationally, driven by our
       ageing population plus advances in technology, diagnostics and treatment.
       The sector also relies on the same lifestyle factors that underpin the
       popularity of tourism and make Noosa a much sought after destination.” (p.
       16)
Further more, according to the Plan:



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