Water lot of money on the Gold Coast

Fact sheet highlights value of iconic waterways to the local economy.

Everybody knows how important the canals and rivers are to the image and lifestyle of the Gold Coast but what about the economic impact? What is the value of the waterways and what contribution do they make to the local economy?

To answer that question, the Gold Coast Waterways Authority (GCWA) has put together a fact sheet that provides a statistical snapshot of the value of the local waterways for a range of activities, including boating. The figures are drawn from the GCWA's report called 'Socio-economic Uses and Economic Value of Gold Coast Waterways' which was released last year.

The fact sheet states there are 32,000 registered recreational vessels on the Gold Coast and 7,300 registered PWCs with a total of 20 marinas located in the region. In total, 28% of Queensland recreational vessels are based on the Gold Coast.

The waterways are estimated to create around 4,000 jobs in total (approximately 960 in the marina sector) with the flow-on impact of an additional 2,000 jobs, and it is estimated that the annual contribution of the waterways to the regional economy is around $440 million per annum combining contributions from marinas, tourism and recreational activities such as boating. The flow-on or indirect impacts of this activity boost the figure to around $770 million per annum.

The fact sheet estimates the 'natural capital' value of the waterways is $26 billion, a figure which takes into account the value of the market and non-market benefits of the waterways if access to them or their condition was "significantly impacted or lost altogether".

The importance of the waterways is backed by survey responses from local residents with 91% of respondents stating that the waterways are a significant reason why they choose to live on the Gold Coast. In addition, 74% of respondents supported more being done to enhance access to the waterways and reduce congestion in high-use areas.