Gold Coast’s tourism boom: Revitalisation and record-breaking returns

Issue 15 | Thursday 27 June 2023 | Gold Coast’s Tourism Boom: Revitalisation and Record-breaking Returns

Hi, Andrew Bell with you, the Gold Coast’s ongoing revitalisation is yielding noticeable results, as we witness the profound lasting impact of the pandemic driving a substantial influx of people to migrate to South East Queensland, especially the Gold Coast. Moreover, we are delighted to observe a renewed affection for the region within our tourism sector.

Recent reports have revealed that Gold Coast hotel occupancy is now surpassing pre-pandemic levels, drawing visitors back to Australia’s tourism capital. Average hotel occupancy rates have impressively surged by 17% compared to the figures from before 2020, with levels jumping from 43.3% in early 2020 to an impressive 70.1%. The same period has also witnessed a noteworthy 33% increase in average room rates, rising from $195 per night to $271.

Prior to the pandemic boom, a significant portion of Australian’s tourism revenue flowed overseas. However, with the sharp rise in the cost of international travel and accommodation, it is hardly surprising that people are now considering better value for their money, and in this regard, the Gold Coast stands out as a preferred choice.

Over the 12 months leading up to December 2022, the Gold Coast warmly welcomed a record-breaking 11.4 million domestic overnight and day trip visitors, injecting a remarkable $6.1 billion into the economy. Notably, interstate visitors played a significant role, accounting for a new record of 2.3 million visitors in 2022.

The ongoing winter season is particularly noteworthy, with its stunning beauty, marked by almost no rain and breathtaking days. The Gold Coast’s magnificent climate, consistently ranked as one of the top five in the world, undoubtedly leaves a lasting impression on visitors. This appealing climate, coupled with our region’s affordability and the absence of major urban issues, has been a driving force for people relocating here. While the pandemic initially played a role in attracting new residents, we anticipate a shift back to more traditional reasons, highlighting the Gold Coast’s appeal as a beautiful regional city without the complexities of larger metropolises.

Before concluding, we mustn’t forget the upcoming Ray White Surfers Paradise Muscular Dystrophy Ball, a significant community event and the ball of the year on the Gold Coast. Details are readily available on-screen for booking a table to attend with family, friends, clients, or any group, big or small. It promises to be a special and enjoyable evening, all while contributing to a worthy cause in support of young children affected by Muscular Dystrophy.

Wishing you all the best, and I look forward to reconnecting in a fortnight, just as spring begins to unfold.

Warm Regards,

Andrew Bell, OAM
Chief Executive Officer
The Ray White Surfers Paradise Group

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