Fraser Coast Regional Council

economic profile

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Fraser Coast Regional Council

Outlook overview

Impacts of COVID-19 on Fraser Coast Regional Council's Economy

COVID19 had a substantial negative impact on economic activity in 2024. The spatial impacts of the pandemic are uneven and will depend on the level of cases, industry mix and export exposure. In response, .id has developed short term economic and employment forecasts, outlook.id, to show the impacts and recovery at the LGA level.

Compared to pre COVID-19 forecasts, Fraser Coast Regional Council's economy will be $32 million, or 0.7% smaller in 2024. This impact is relatively low and is below Regional QLD impact of -7.2%.

As illustrated in the figure below, the cumulative impact of COVID-19 is estimated at -$32 million over the next five years.

There will be around 887 fewer jobs in 2024 than the pre COVID 19 forecasts. This impact represents around 2.3% of all jobs, below the impact on Regional QLD. The impact on Employed residents is forecast to be lower than Local Jobs.

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What key assumptions have changed?

Australia and Queensland have done remarkable well in terms of global standards of containing the COVID-19 virus and preventing it from causing mass fatalities and/or crippling the health system. Federal and State government stimulus has been crucial in boosting confidence in the economy and maintaining business and employee relationships throughout the downturn. This allowed Queensland and its regions to bounce back quicker and strong than expected. The stronger recovery profile underpins the upward revision to economic activity, employment, investment and exports in the short term (2021-2023).

Further information about the forecast update can be found here



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Other information to help build your recovery plans

Fraser Coast Regional Council

economic profile