Building upon the 7 core industries and the game changers fueling the growth of the region, there are several accelerators that will boost the Sunshine Coast economy even further.
With consideration to what we’ve already shared with you, imagine more fuel added to the fire that is the Sunshine Coast’s bright future.
What we see in each of these accelerators is incredible opportunity to build upon our strong foundations. Without the strong foundations that exist, each of these opportunities would be wasted, and this further supports the position that the Sunshine Coast is uniquely positioned to benefit from the perfect combination of circumstances and investment already unfolding.
In ten years the Sunshine Coast will shine on screens across the globe, with South East Queensland hosting the 2032 Olympic and Paralympic games.
To prepare the region, infrastructure investment will be focused on transport and venue upgrades, and accommodation and event solutions.
While this development and the game visitation will both be major boosts for the Sunshine Coast, the real impact will take place after the games have closed.
The Olympics provides a platform to expose what’s on offer here to people living in every single country, which is likely to result in an influx of tourism, relocation and investment.
Australia’s first purpose built, end-to-end food and beverage manufacturing and education precinct will soon be constructed at the Sunshine Coast Airport.
The $112.8 million Turbine Precinct has Federal funding secured and is set to become Australia’s leading industry-based food and beverage research and commercialisation facility, where industry, research, government and education and training providers collectively unlock growth and drive innovation.
The state-of-the-art precinct will provide end-to-end support for local food and drink businesses in a shared and collaborative environment, enabling lucrative opportunities for businesses at all stages and all sizes to build, scale and export, all under one roof.
Not only will mum and dad businesses be able to compete with international brands, with access to world class services and advanced manufacturing infrastructure to reduce cost and increase speed to domestic and international markets, the project is estimated to deliver $200 million in economic benefits to the region each year. Combined with all else that is occurring on the Sunshine Coast, we believe the impact of this innovative project will be far greater.
It’s not often a major new airline joins Australian skies, and it’s even more rare that they nominate their home base at an airport outside of a capital city but that’s exactly what is happening on the Sunshine Coast.
Our country’s newest airline and low-cost carrier, Bonza, announced earlier this year Sunshine Coast Airport will be its first base and head office. This major announcement means destinations from Sunshine Coast Airport have almost tripled, with Bonza planning to operate 39 flights per week to 13 routes - 10 of which have never been serviced from here before.
With these new destinations, Sunshine Coast Airport will move up the ladder from 10th to the 2nd most domestically connected airport in Queensland. This will have an immediate impact on tourism and commerce as new markets are opened up and new people can access and discover the Sunshine Coast for the first time.
This discovery won’t just be about our incredible tourism offering, it will be about business and access to the most secure and fastest internet connection to Asia from anywhere in Australia (or mainland America) and food and agribusiness opportunities through the Turbine project.
Before COVID hit, the Sunshine Coast was the number one regional area for interstate migration across Australia.
A trend that was exacerbated by the pandemic. Leading demographer Bernard Salt recently spoke about how the pandemic has been a “control, alt and delete” moment in our lives with the real game changer for regional Australia being our newfound ability to work from home. When work no longer required a person to have a physical presence in an office, the regional centres became all the more appealing. It has prompted people to rethink many things in their life such as where they live and work.
While some places across the country received a ‘sugar hit’ to their property market as a result of COVID (ie. it’s unlikely that the changes will remain long term), this was not the case for the Sunshine Coast. It simply pulled forward what was already unfolding, sped up the population growth and fast-tracked people’s plans to relocate.
In our next blog post we’ll talk about Business Investment in the Sunshine Coast
Download our full guide: Why The Sunshine Coast (2023 Edition)
View our selection of Sunshine Coast investment properties for sale.
Jason is the Managing Director of Dwyer Property Investments and a trusted local expert. Together with build partner Dwyer Quality Homes, he’s been helping Queenslanders buy profitable, cash-positive, tax-effective investment property for 35 years. Visit dwyerpropertyinvestments.com.au.
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