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Star Gold Coast Hotels The Gold Coast Essay

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...

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…

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Bibliography

Australia: September 2002. (2002, Sep 25). Retrieved from World Trade Organization: http://www.wto.org/english/tratop_e/tpr_e/tp202_e.htm

Tourism Queensland. (2010). Retrieved from Tourism Queensland: http://www.tq.com.au/newsroom/

Technology Pioneers 2013: Pushing New Frontiers. (2012). Retrieved from World Economic Forum: http://www3.weforum.org/docs/WEF_TP_PushingNewFrontiers_Report_2013.pdf

Australia Economy and Politics. (n.d.). Retrieved from AsiaRooms.com: http://www.asiarooms.com/en/travel-guide/australia-economy-and-politics.html
Australian Bureau of Statistics. (n.d.). Retrieved from Australian Bureau of Statistics: http://www.abs.gov.au/
Chalk, P. (2010, Mar 18). Below the Radar. Retrieved from Rand Corporation: http://www.rand.org/commentary/2010/03/18/NYT.html
Davis, K. (2007, May). Financial regulation: trends and prospects. Retrieved from The Melbourne Review, Vol 3, Number 1: http://www.melbournecentre.com.au/files/Keven_Davis_Financial_Regulation_Trends_and_Prospects.pdf
Gold Coast 5 Star Accommodation. (n.d.). Retrieved from Gold Coast Things to Do: http://www.goldcoastthingstodo.com.au/accommodation/5-star-acommodation
Gold Coast Hotels. (n.d.). Retrieved from AsiaRooms.com: http://www.asiarooms.com/en/australia/gold-...false&ResultsPerPage=15&IsExplicitSearch=false
Manktelow, J. & . (n.d.). PEST Analysis. Retrieved from Mind Tools: http://www.mindtools.com/pages/article/newTMC-09.htm
Meindl, L. & . (2010, Jan 18). Effects of Globalization on Australia. Retrieved from Munich Business School: http://munich-business-school.de/intercultural/index.php/Australien_-_Effects_of_Globalization
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