Economy
In fifty years, Gold Coast City has grown from a small beachside holiday destination to Australia's sixth largest 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).
Read more about this topic: Gold Coast, Queensland
Famous quotes containing the word economy:
“Even the poor student studies and is taught only political economy, while that economy of living which is synonymous with philosophy is not even sincerely professed in our colleges. The consequence is, that while he is reading Adam Smith, Ricardo, and Say, he runs his father in debt irretrievably.”
—Henry David Thoreau (1817–1862)
“It enhances our sense of the grand security and serenity of nature to observe the still undisturbed economy and content of the fishes of this century, their happiness a regular fruit of the summer.”
—Henry David Thoreau (1817–1862)
“Wise men read very sharply all your private history in your look and gait and behavior. The whole economy of nature is bent on expression. The tell-tale body is all tongues. Men are like Geneva watches with crystal faces which expose the whole movement.”
—Ralph Waldo Emerson (1803–1882)