Sunshine Coast Plan for the future

Sunshine Coast: Plan for the futureA new report into the Queensland Sunshine Coast’s economic fundamentals says the region has weathered the global financial crisis well, but it should widen its sectoral base to embrace new opportunities.The University of the Sunshine Coast report, A commentary on the Greater Sunshine Coast economy, provides economic snapshots of the region, which includes the local government areas of the Sunshine Coast Council and Noosa Shire.The report indicates that the regional economy has fared well since the global financial crisis and hasn’t suffered significant sector failures or asset devaluations. It advises, however, that the Greater Sunshine Coast economy has potential to widen its sectoral base, particularly in the areas of health, education and professional services.Because construction and development are subject to wider economic forces, and tourism and retail are largely discretionary and, in part, seasonal, the report recommends that the Sunshine Coast expands its economic base to include less cyclic and more innovative sectors. It specifies health and education, in particular, as offering opportunities.It states that while the Sunshine Coast region isn’t substantively different from other major peri-urban Australian regions in its economic make-up, certain key features of the Sunshine Coast economy deserve scrutiny in order to plan effectively for the future. It identifies the rate of ageing in the community and the region’s relatively low levels of median household income as two areas needing closer attention.The report also calls for a ‘more mature relationship’ with Brisbane, which it says can help position the Sunshine Coast as South-East Queensland’s third node alongside the state capital and the Gold Coast.The report uses data from several sources, among them the Office of Economic and Statistical Research and the Australian Bureau of Statistics (ABS). The data sets parameters for the Sunshine Coast’s Regional Economic Development Strategy 2013-33 and will help inform future research.To download a copy of the report, go to: http://research.usc.edu.au/vital/access/manager/Repository/usc:13397?queryType=vitalDismax&query=economic+commentary