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Economy of Gold Coast


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In fifty years, Gold Coast City has grown from a small beach side holiday destination to Australia's sixth largest city (and the country's most populous non-capital city). Situated within South East Queensland�s growth corridor, the city is now considered Australia�s fastest growing large city, with a 5-year annual average population growth rate of 3.4%, compared to 1.2% for Australia. Gross Regional Product has risen from A$9.7 billion in 2001, to A$15.6 billion in 2008, a rise of 61 percent. Tourism remains fundamental to Gold Coast City�s economy, with almost 10 million visitors a year to the area. In the past the economy was driven by the population derived industries of construction, tourism and retail. Some diversification has taken place, with the city now having an industrial base formed of marine, education, information communication and technology, food, tourism, creative, environment and sports industries. These nine industries have been identified as the key industries by the Gold Coast City Council to deliver the city�s economic prosperity. Gold Coast City�s unemployment rate (5.6 per cent) is below the national level (5.9 per cent).

Tourism

Around 10 million tourists visit the Gold Coast area every year: of 849,114 international visitors, 3,468,000 domestic overnight visitors and 5,366,000 daytrip visitors. Tourism  is the region�s biggest industry, directly contributing more than $4.4 billion into the city economy every year and directly accounting for one in four jobs in the city There are approximately 65,000 bed spaces, 60 kilometres of beach, 600 kilometres of canal, 100,000 hectares of nature reserve, 500 restaurants, 40 golf courses and 6 major theme parks in the city. There have been various prospects and proposals raised for even more theme parks than the current five.

Gold Coast Airport provides connection across Australia with airlines including Jetstar, Virgin Blue and Tiger Airways. International services
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