One of the many advantages of owning commercial property on the Gold Coast is the constant influx of tourism.
This is great for those in the retail and hotel trades, as it offers a year-round flow of demand for Gold Coast products. What's even better is that recent research has revealed that tourism in Australia, both domestic and international, is showing no signs of slowing down.
In a report on the state of the nation's tourism industry, Roy Morgan Research CEO Michelle Levine was very upbeat.
"Australia's tourism industry is at a turning point. Having adapted to the enormous challenges thrown at it by digital technology and globalisation, it is currently the country's fifth-most valuable export industry.
But as the commodities boom fades and the nation reassesses its assets, Tourism stands to become our most valuable 'New Age' export industry," she said.
If you're on the fence about going out to buy commercial property on the Gold Coast, consider this: Every day, the population swells by 20,000 with overnight visitors according to the Gold Coast council.
The figures from Tourism Research Australia (TRA) reveal that for the year to December 2014, there was 6.4million international visitors to our country. This represents an 8 per cent increase from the year before, and also receives the mantle for the highest total of all time.
What is the main reason for international travellers coming to Australia? Why, for a holiday and to bask in our warm sun and beautiful beaches of course! If you're visiting a country for leisure, you're not exactly going to keep your wallet snapped shut. This is reflected in the total expenditure from international tourism, a whopping $31.1billion and thus a great contributor to our GDP.
What's more, 14 of Australia's top 20 tourism markets announced record amounts of arrivals. One of the main supporting factors is the skyrocketing tourism from Asian countries, which has grown by 18 per cent in just 12 months. This in addition to the interest from Asian nations in commercial property for sale on the Gold Coast.
Tourism Research Australia's Assistant General Manager Spiro Kavadias assured that this is only the beginning.
"Given the current record performance, coupled with the lower Australian dollar, our proximity to the growth markets of Asia, and continued economic recovery in Western markets, the outlook for inbound travel remains positive," he said.
Just like international, the data from TRA shows that domestic tourism is also breaking records. For the first time ever, the number of domestic overnight trips surpassed 80million, and is now well over 81million.
The value of these domestic overnight trips in Australia actually dwarf that of international ones, coming in at an elephantine $54.4billion as opposed to the $31.1billion from international. The TRA asserts that the reason for the growth in the number and value of domestic travel is an increase in Australians travelling to visit friends and relatives.
Mr Kavadias believes that similar to international, the domestic segment has still got a lot of expansion on the way.
"Further decreases in the value of the Australian dollar and lower petrol prices will also help encourage growth in the domestic holiday sector," he said.
It's no secret that commercial property for sale on the Gold Coast, particularly those dealing directly with the consumer, thrives on tourism. With this in mind it certainly seems to be a good time to buy commercial property for sale on the Gold Coast, given that international and domestic travel within Australia is currently breaking records.
Even better, they're not showing any signs of letting up any time soon!
Would you like to know more about buying commercial property for sale on the Gold Coast? Talk to the team at Ray White, as we can guide you through the whole process of purchasing your ideal piece of real estate.