WE ARE IN FIGHT FOR OUR CITY’S SURVIVAL

GOLD COAST existential crisis.

The fact that COVID-19 is a serious community health crisis is undisputed. Preserving human life and wellbeing must be our top priority.

It is also a fact that the resulting economic carnage is of a scale not seen in Australia or globally since World War II.

What all of this means for the Gold Coast is quite simple, and very frightening. We are in a fight for our city’s survival.

Our $6 billion tourism industry is the bedrock of Gold Coast’s economy.

Tourism is the key enabler is facing an for our 680,000 residents to flourish. It directly employs one in every six people on the Gold Coast. Indirectly, every single member of our community relies on tourism in some way.

Some 40 per cent of economic activity on the Gold Coast is tourism spend, and with the flow-on effects to other industries, COVID-19 is now a crisis that affects us all.

We know that at a minimum, COVID-19 has already cost Gold Coast’s tourism sector between $600 million and $1 billion, a figure that will increase by at least $310 million every month.

Now more than ever, the dependence of the Gold Coast on a thriving tourism sector comes into sharp focus and the risk permeates into our entire economy.

I’ve heard a lot of opinions in recent weeks about the “over reliance” of Gold Coast on tourism as an economic driver. This seems like a reasonable argument on face value.

But tourism is to Gold Coast as oil is to Texas. Our beaches, weather and natural beauty are our biggest economic asset. That won’t change anytime soon.

To develop new economic sectors takes decades and to be frank, billions of dollars of public money. Your money.

There will be plenty of time to talk about economic diversification later. Now is the time to make sure there is an economy left to talk about.

I say this not be alarmist, but to be honest. The reality is Gold Coast businesses urgently need local, State and Federal Government support to stay afloat.

COVID-19 is being met with resilience and creativity by the sector. From Gold Coast’s top restaurants offering takeaway meals to innovative ‘staycation’ offerings by our hotels, operators on the Gold Coast are giving it their all to keep people employed.

The current support from State and Federal Government initiatives in offering muchneeded relief, deferrals, assistance and concessions for businesses is a good start. But, more needs to be done.

Businesses need urgent access to boosting their cash flow at a time when they now face continued pressure to meet fixed cost commitments.

Overwhelmingly, the biggest worry operators I have been speaking with in recent weeks have, is keeping their

staff employed. They will need help to do this.

This significant disrupter will play out over several years. The road to recovery will be complex and challenging.

On the ground, our focus as Team Gold Coast is survival now, then rebounding when the threat is neutralised.

The biggest opportunities will be in our own backyard. We know that 92 per cent of visitors to the Gold Coast come from within Australia.

We can’t wait to welcome them back.

In the meantime, we must work together to absorb the shock to eventually come out the other side. The future of Australia’s favourite playground depends on it.