Economic Spotlight on Gympie
Case Studies Economics
The Client
Gympie Region LGA
Challenge
The local council needed an in-depth economic analysis of the region to support developing an Economic Development Strategy.
Our Method
.id performed a detailed analysis of the local Gympie economy. The report focuses on the period from 2017 to 2022 to assess recent economic performance, growth drivers, competitive advantages and barriers to growth.
Highlights
.id presented an economic story of the Gympie region that covered a detailed analysis of key strategic industries, mismatch in resident and local worker's jobs and qualifications, and diversity.
Results
The outcome for the council is evidence-based insights that informed and supported the Council economic decision making, focusing on industrial growth, demographic changes, and infrastructure needs.
Economic Spotlight on Gympie Region LGA
In 2023, our consultants conducted an Economic Health Check for the Gympie region's economy as council looked to explore recent trends and identify what factors or industry changes were driving the economy. Here's what we found.
Economic recovery and growth
Jobs and economic activity rebounded strongly from drought and COVID-19 impacts, with job growth at 2.6% per annum from 2017 to 2022, surpassing the long-term average. Unemployment dropped significantly to 5.4% by December 2022.
Population and business growth
Strong domestic migration drove population growth in 2022, boosting local business demand. There was a notable increase in new businesses in 2021 and 2022, with net new businesses exceeding pre-COVID-19 levels despite higher business closures.
Resilient tourism sector
Tourism visitation remained relatively stable despite travel restrictions, demonstrating the sector's resilience and potential for future recovery and growth.
Expansion in health care and social assistance
Significant growth in Health Care and Social Assistance jobs and economic value was driven by population growth, an aging population, and NDIS investment over the past five years.
Construction and manufacturing activity
Strong construction activities were supported by population growth, government incentives, and renewable energy projects. Manufacturing jobs increased, mainly due to rising demand for construction inputs, though value added fell due to decreased Food Product Manufacturing exports.
About our economic consulting team
Our economic consulting team is engaged by councils and organisations across Australia to provide in-depth insights behind the data. Our experts draw on their knowledge of urban and regional economic development and years of experience working with decision makers across Australia. This information is used by councils to develop evidence based economic development strategies, investment attraction plans and support grant applications.
If you need help on a project, please contact us and we will get in touch.
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