Main Industries On The Gold Coast

Since the World War 2, the Gold Coast has experienced tremendous growth. First emerging as a seaside holiday destination, the city’s population and more importantly, the economy has grown to one of the biggest Australia. In terms of size, it is the sixth largest city in Australia, which also makes it as the largest non-capital city in Australia.

But perhaps it is the diversification of its industries that has set the city apart from many other large cities in the country. Gold Coasts sports a much-diversified economy, which has set it on a path of incredible growth. In fact, it is the fastest growing city in terms of population, with an average of 1.8% annual increase in population.

Herein we are going to explore the main industries in Gold Coast; the very same industries that set the economic wheels of the city in motion.

#1. Tourism, Hospitality, And Sports Industry. Tourism is by far the most significant industry in Gold Coast, owing to the important historical role of the industry. It is tourism that set Gold Coast on the map and for the most, it is the industry that sustains the incredible growth of the city even today. Gold Coast receives more than 10 million visitors on an annual basis. The visitors add $4.4 billion annually to the economy.

#2. The Film Industry.  Gold Coast is also a major player in the film industry. The vast majority of film production (an estimated 75%) in Queensland takes place in Gold Coast. In fact, Gold Coast has emerged as the third largest film production centre in the Australia, with the industry adding $150 million per year to the economy of the city.

#3. The Manufacturing, Retail, And Distribution Industry. The manufacturing, retail, distribution industry is one of the most important industries and a significant employer. The industry produces consumer products for the city as well as the entire Queensland population.

#4. The Construction And Property Development Industry. The property market is also a major industry in Gold Coast. With an ever increasing population that is set to double to 1.2 million people by 2050, the industry needs to keep growing to meet the housing demands of it residents.

#5. The Mining And Energy Industry. The mining and energy sectors are inextricably linked owing to the historical significance of extractive energy. The main source of energy for the city of Gold Coast and by extension the state of Queensland is the coal. Queensland holds 98% of Australia’s coal seam and thus the vast majority of Gold Coast’s energy needs are met by coal. Gas, another extracted source of energy is an important energy source for the city and form an integral part of the energy sector.

#6. The Health And Medicine Industry. This is another important industry for the city. It has an estimated value of $2.2 billion annually while employing over 40,000 highly skilled medical practitioners.

However, the city of Gold Coast has a policy of going green, which has paved way for renewable energy sources such as the solar and wind energy sectors to emerge and grow in significance.

Other notable industries include the Information Technology and science industries, the farming industry, and the marine industry. This list of Gold Coast industries, however, is by no means conclusive. There are other industries thriving in the city. However, the above industries are considered the main industries.

More info about Gold Coast industries

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