Great Keppel Island injects $25 million, 250 jobs into local economy….AND COUNTING!
Posted on January 17th, 2024
The region’s peak tourism and economic development Organisation has today released key findings of a detailed report which reveals the substantive current and future economic significance of Great Keppel Island (GKI) to the Capricorn Coast region/Livingstone Shire LGA.
National economics consultancy firm AEC was engaged by Capricorn Enterprise in late 2023 to undertake an Economic Impact Assessment (EIA) of both current activity and proposed future activity of GKI following full development of the GKI Masterplan.
The report reveals that the Capricorn Coast tourism destination generates approximately $90.4 Million in GRP (Gross Regional Product) of which $24.5 million (27.1%) is attributable to activities occurring on and associated with Great Keppel Island.
Capricorn Enterprise CEO Mary Carroll said “The economic assessment has shown the importance of Great Keppel Island to our region’s economy.
“An impressive one quarter of the coast’s tourism economy is generated because of Great Keppel Island.”
“This increases to over 50% of our local tourism economy with the realisation of the GKI masterplan vision” she said.
Long hailed as the jewel in the crown of the destination’s tourism offerings, visitors to Great Keppel Island generates $49.9 Million in revenue for local businesses which will increase by another $95.9 Million with the implementation of the GKI Master Plan, bringing the total visitor spend to $145.8 M.
The report also revealed that Great Keppel Island currently supports over 250 FTE (Full Time Equivalent) jobs in a range of industries from accommodation and food services, retail trade, transport and a range of other services. An additional 500 FTE are expected to be generated once the masterplan has been delivered.
Capricorn Enterprise was an active participant in the GKI Master Plan Project Reference Group over an 18 month period, lodging a detailed submission to the Draft report released by the State government in July 2023.
Ms. Carroll said “on behalf of our Member businesses, we asked for the immediate construction of a new sewerage treatment plant as well as timelines and funding for a jetty/barge ramp to provide accessibility for all visitors and pave the way for future resort development.”
The report states “Realising the economic potential of GKI can’t stop at the master plan with success of future development requiring all three levels of government to commit to action on a range of policy, infrastructure and investment attraction initiatives.” Ms Carroll said “We eagerly await the release of the Final GKI Master Plan and we are hopeful that it responds to the very specific and critical requests around common user infrastructure, timelines and funding outlined in our submission.”
Economic Significance of Great Keppel Island – Executive Summary – capricornenterprise.com.au/wp-content/uploads/Economic-Significance-of-GKI-Executive-Summary.pdf
