Star Gold Coast Hotels the Gold Coast

Star Gold Coast Hotels

The Gold Coast sector is on the top 66 Best Luxury Hotels in Australia list (The 66 Best Luxury Hotels in Australia). It is popular for the surf beach, rain forest, golf, theme parks, as well as other attractions (Gold Coast Hotels) and specializes in vacation and holiday getaways (Gold Coast 5 Star Accommodation). The Gold Coast 5 star Hotels are also popular to businesses for meeting, conferences, and other business events. Some of the tourist attractions include the hump back whale tours, theme parks, wildlife sanctuaries, hot air ballooning, kayak paddling, snorkeling, and entertainment at hospitality places with spectacular views (Tourism Queensland, 2010). Australians enjoy a laid back lifestyle with river activities and watching horse racing at the Birdsville Races.

PEST Analysis

The PEST Analysis includes analysis in political, economic, socio-cultural, and technological (Manktelow). The Australian government is a constitutional monarchy with a parliament system of governance. Australia's tariff rates are on the rise and they do have a Goods and Services Tax (Australia: September 2002, 2002). There has been strong support from the government to the service sector through direct financial assistance, tax expenditures, and funding of public sector institutions. Recently there have been a lot of regulation changes. There has also been homegrown terrorism that is below the radar of law enforcement and intelligence agencies that have been fueled by the internet (Chalk, 2010). Although the regulation changes can create opportunities, they can also create threats of higher cost of compliance. The homegrown terrorism can create threats of safety and higher costs of losing business and harm. Even though there are higher tariffs and a Goods and Services Tax, the government is a good source for opportunities of expansion and strategic goals.

Australia maintains a prosperous mixed economy with rising output in domestics, but a high current deficit and net foreign debt (Australia Economy and Politics). The service sector, which consists of tourism and education, makes up 6.9% of the GDP. The population growth rate is 2.9%, economic growth is 1.3%, and unemployment is at 5.2% (Australian Bureau of Statistics). The GDP increased 3.6%, average weekly incomes for fulltime adults increased 3.5%, and housing finance increased 4.6%. The population and economic growth presents opportunities for business growth.

The multicultural society has a workforce that is multi-lingual and creates a lot of diversity in the economy (Meindl, 2010). Australia is a beer drinking nation with the highest per capita beer consumption worldwide. There is a strong passion for sports with English as the native language, but with their own terminology. The biggest economic factor is the service sector with business and economic alliances having strong influence over international business life. There is a strong labor movement on international trade and e-commerce is expected to add 2.7% to GDP growth over the next ten years.

There are current concerns about the excessive regulations (Davis, 2007). Some issues with economic regulation, Prudential regulation and governance has increased, as well as regulation for suitability of product styles and sales practices, regulatory overlap, excessive regulatory intrusion into corporate governance, onerous disclosure requirements, and payment systems. The strong workforce coupled with the beer drinking creates opportunities to add bars to the services of the luxury hotels for strong strategies. The e-commerce creates opportunities for bookings and payments for additional strategy. Although, threats of higher costs to stay in compliance with law can be brought on with continual regulation changes.