The total benefits generated by the investment are estimated at $37.5M and exceed the cost of the project ($6.5M) over a 10-year period.
Increased visitation and expenditure in the region as a result of the Five Headlands Coastal Experience will benefit existing tourism business operators and attract further investment from the private sector to develop products and services to meet the needs of visitors. This could include transport, merchandise, accommodation, food and beverages, and guiding services. An increased length of stay for existing markets will improve the occupancy rate of accommodation facilities and may result in investment in new accommodation infrastructure to meet market needs.
Additional visitor spending associated with the experience will generate a total of 38 full time equivalent jobs in Year 1, increasing to 48 in Year 10. On a sector basis, the jobs generated by visitors will be mainly concentrated in accommodation; food and beverage; recreational services and other visitor products and services; transport (including shuttles); and other retail.
Critically, implementing the recommendations will ensure the profile of the Region is significantly improved as Australia’s nature tourism destination. This is aligned to the State Government’s strategic goals for regional development and tourism growth.