THE Gold Coast has become a city of business confidence thanks to the positive influence of the 2018 Commonwealth Games.
Ninety four per cent of respondents to the latest quarterly Griffith University — Gold Coast Bulletin Business Confidence Poll are confident that the local economy will gain significant benefit from the Games in the year ahead.
The optimism driven by the Games has been backed by sustained positive sentiments about the performance of the city’s key property, tourism and retail sectors and the local economy.
Positive confidence levels in these sectors has been maintained at high levels for the past 12 months.
Griffith University Pro-Vice Chancellor Business, Professor David Grant said the Coast’s business community is set to take advantage of the biggest event in the history of the city.
“Core positive confidence has been maintained on the Coast for the past year and there is now some evidence the Commonwealth Games is producing an added degree of positivity,” Prof Grant said.
“This situation is unique in Australia at this time and it is up to businesses to now grasp the many opportunities the Games present.”
He said the current poll, which ended in February, follows indications, in the previous quarter,
that 60 per cent of local businesses were planning for growth in 2017 as a result of the Games.
“While there was some variance in the degrees of confidence held regarding
the influence of the Games, the fact that only six per cent of respondents were
not confident and 40 per cent were very confident, augurs well for this year
and for ongoing positive sentiments beyond the April 2018 Games,” he said
“Businesses are recognising the significant opportunities the Games present
and that they can gain from embracing the spirit of the event by providing
support and also implementing internal strategies that create specific benefits
“Unlike in some other cities where negativity has been associated with the
hosting of the Commonwealth Games and the Olympic Games there is strong
support on the Coast.
“While there are obvious benefits for the tourism and hospitality sectors, the
city’s knowledge sector assets and the diversity of its local economy will be
showcased so that opportunities for business not obviously and directly linked
to the Games will also present.
“The Griffith University Business School is undertaking research that will
assist in identifying such opportunities, with results to be made available to the business community.
“This is a terrific opportunity for the Coast’s business community to leverage
and show off its entrepreneurial spirit and “can do” approach to the world.”