Challenge
Cairns Regional Council needed an up-to-date understanding of the economic recovery underway from COVID-19 to help inform and monitor economic development initiatives.
Solution
Council engaged .id to assess the economic recovery underway and the emerging opportunities and challenges. This included analysis of recent growth, industry performance, spending patterns and tourism visitation.
Outcomes
The outcome for Council is an up-to-date evidence base to support advocacy efforts for a range of business survival and stimulus initiatives to support Cairns’ economic recovery.
Key Findings Relevant to Similar Regions
This case study will be relevant to Regional Cities, particularly those with a tourism focus.
Cairns is a major regional city located in Far North Queensland. The Cairns economy was one of the most severely affected regions from COVID-19 in Australia due to the reliance on tourism and other export sectors. In March 2020, air travel ground to a halt, hotel occupancy rates collapsed and 9 out of 10 businesses were impacted. The economic recovery was faster than expected with strong growth in the second half of 2020. But, risks remain and the industry recovery is uneven.
The four key findings from the Cairns analysis relevant to other regional cities include:
- The local economy rebounded quicker and faster than expected.
- Jobs vacancies are surging, but filling positions is hard.
- Regional Cities have become more important since the COVID pandemic.
- Headwinds will impact speed of recovery, especially for regions with a reliance on international tourism and/or overseas migration.
Further Information
Check out articles from our Economics team here, or feel free to book a meeting if you would like to learn more about how we can help you build the evidence base.
