17 Sep 2019
Words Greg James

Market Update With Greg James: Why Our Region Is Set To Benefit From A Surge in Tourism

The Gold Coast market had a bit of a hiccup obviously during the Commonwealth Games and the debacle that went on there, but it's really bouncing back and the accommodation industry is strong. There has been a lot of development on the Gold Coast with infrastructure projects like the tram service, but motel sales are few and far between and obviously the caravan parks are pretty well-controlled by the councils and the government.

Gold Coast

The Gold Coast market had a bit of a hiccup obviously during the Commonwealth Games and the debacle that went on there, but it's really bouncing back and the accommodation industry is strong. There has been a lot of development on the Gold Coast with infrastructure projects like the tram service, but motel sales are few and far between and obviously the caravan parks are pretty well-controlled by the councils and the government.

The Gold Coast market had a bit of a hiccup obviously during the Commonwealth Games and the debacle that went on there, but it's really bouncing back and the accommodation industry is strong. There has been a lot of development on the Gold Coast with infrastructure projects like the tram service, but motel sales are few and far between and obviously the caravan parks are pretty well-controlled by the councils and the government.

So they are a little bit difficult to come by. But we are always out searching and looking for opportunities. So if anyone's out there wishing to market their motel or caravan on the Gold Coast, please don't hesitate to give me a shout. I'll be there as quick as I can to have a chat.

Northern NSW

This area is a different kettle of fish. Obviously we've got the coastal region and we've got the western region. On the coastal side of things, things are moving very well because it's just becoming so popular and people want to live in northern NSW. The major roads are being done with the highway between Coffs Harbour and Ballina nearly completed. It's still got a year or so to go but once that road's built, we expect a boom right throughout the whole region.

As for Byron Bay, I call it the magic line of Byron Bay,it keeps spreading out and people are now starting to go to different areas of northern NSW because they understand how beautiful it is, how pristine the beaches are, et cetera. So, the numbers are up in that area and once that major highway project is completed, that's going to be even more beneficial for the whole area.

Incidentally, take a look at the stats on the growth of tourism in this part of the world on the next page. In the past five years, total expenditure by visitors has increased by a staggering 70 percent!

North-west NSW

Out west, unfortunately, the drought has taken its toll but the tourist numbers are still fairly strong, so if you're out in the western areas, I'd suggest that you hang in there.

Around the Narrabri and Moree areas, the inland rail's coming and there's some big infrastructure spending in the Moree area such as the hospital and the inland rail hub that's getting built. Also in the Narrabri area, being close to Gunnedah, new mines are opening up. 

Inverell's very strong in regards to the meatworks there and it's a very big employer in the area. And obviously once the rains come, then the whole area will be uplifted and we can get back to normal trading.

Population & the dollar

One amazing statistic you need to understand in the accommodation industry is that the population of Australia hit 25 million people and that was 17 years ahead of what was predicted. Although a lot of people are moving to the cities for employment, it also means that the population increase is way out of control and those people are going on holidays domestically and, with the Australian dollar the way it is at the moment, they're holidaying in Australia.

What this means is that with the huge boost in population, the number of regional nights are way up. So regional NSW actually accommodates more people per year than the Gold Coast does now. I know that it's a bigger area, but it's still spread out. It's really amazing statistic and they've got to stay somewhere.

Feel free to get in touch any time

If you'd like your motel appraised, we're happy to do free appraisals and we can give you some facts and figuresand also some hints on how you could possibly improve your business if you want to sell it in the future. Whether it's one year, two years, or four years down the track, we're happy to have a chat, give you the best advice and introduce you to some peoplethat may be able to help to increase your occupancy rates. We try to help everyone, everywhere. And please don't hesitate to give me a shout any any time and I'll see you next time I call through your area.