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  • Writer's pictureSanad Capital

Post-Covid-19 “cocooning” set to reinvigorate struggling local tourism and hospitality industry

A new economic analysis predicts a new trend of “cocooning” will bring fresh hope to Australia’s short stay domestic market as pandemic restrictions ease and Aussie families seek local, risk-free holiday spots.

Invigorate Resort & Actventure Waterpark Sunshine Coast
Birdseye View Invigorate Resort & Actventure Waterpark Sunshine Coast

Destinations within a two to three hour drive of Brisbane and similar key markets across the country are expected to benefit from increased local visitor numbers and extended stays post-pandemic, with the potential for our ‘new norm’ to far-surpass the Sunshine Coast’s record visitors stays and spend in 2019.

With the national unemployment rate forecast to reach over 10 per cent within the coming months, one Sunshine Coast developer is pushing forward with plans to bolster employment in the state’s worst-hit tourism, accommodation and hospitality sectors through its two-year ACTVENTURE project.

Spread over 14 hectares, the major Sunshine Coast tourist attraction and resort complex by Sanad Capital will be the third largest waterpark in the state and is anticipated to attract more than 220,000 visitors per year once open.

Actventure’s waterpark and Invigorate Integrated Tourism Resort Complex will offer a mixture of self- contained family-friendly villas, local farm to table experiences, open-air cinema, sports club, swimming pool, water-based activities including stand-up paddle boarding and kayaking and the like, plus Australia’s biggest waterpark positioned next to a resort complex.

Sanad Capital Managing Director Mr Bradley P. Sutherland said, “the ongoing impacts of COVID-19 on domestic and international travel means we’re seeing a resurgence of support for local tourism, and the rising need to complement existing holiday offerings with exhilarating and refreshing experiences to fulfil the needs of Australian travellers and allow them to escape the ordinary.”

It is anticipated Sanad Capital’s $65 million Actventure project will support the development of 300 construction jobs over the next two years and inject approximately $41 million into the Sunshine Coast economy during that time.

Once fully operational, the locally developed Actventure Waterpark and Invigorate Resort Complex is expected to generate a further 200 Full Time Equivalent (FTE) jobs throughout the Sunshine Coast region and generate flow-on benefits in the order of $24 million per annum to the local economy through some 50,000 room nights annually.

The Facts:

  • $116 million direct and indirect construction effect

  • 300 direct and indirect construction jobs

  • Estimated $41 million direct and indirect value-added effect through construction

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