It’s important that we understand community sentiment in the areas of economic development, tourism, and placemaking so the strategy addresses local needs and implements support and initiatives in the areas that the community views as most valuable.

We’re developing the strategy through analysis of community and stakeholder feedback, and review of existing related strategies including the 2014-19 Economic Strategy, and Bayside Tourism Strategy. The Economic Development, Tourism & Placemaking Strategy 2024–2029 will also incorporate local and national economic data and trends, and align with the Bayside 2050 Community Vision, Innovate Reconciliation Action Plan 2022-24, Bayside Council Plan 2021 - 25 and other related Council plans and strategies.

The draft Strategy has been shaped by feedback from over 1,000 community members.

Between 13 April 2023 and 10 May 2023, we heard from 360 community members, including residents, businesses, visitors and advisory groups, through early engagement on improving our local economy. We also heard from around 700 community members between 31 October and 27 November 2023, who provided feedback on placemaking actions.

The Strategy was also informed by comprehensive background analysis that included:

• a specialist consultant’s background economic analysis on the state of the economy and global and national trends
• a detailed assessment of the local economy including the completion of a Business Monitor
• a comprehensive audit and placemaking evaluation of 7 activity centres
• reviewing relevant Council policies and strategies.

The Economic Development, Tourism & Placemaking Strategy 2024–2029 will provide a clear direction and identify areas of focus and investment for achieving increased economic activity in Bayside. The strategy will guide decision making, support and inform initiatives for businesses, the community, and tourism over the next five years.

Economic development typically refers to growing a local economy to enable a higher standard of living. This means growth in economic activity, such as a night-time economy with restaurants, bars and events; celebrations of local creativity, arts and culture; or more tourists spending money. This growth enables businesses to invest in new equipment, hire more people and pay higher wages.

Bayside’s tourism industry is a priority sector as an essential contributor to the local economy.

Tourism relates to people spending money in places they don't usually live or work. This includes residents of Greater Melbourne (not just interstate or international arrivals) travelling to Bayside for day trips, visiting natural areas, shopping, visiting arts or hospitality venues, or using local services like health care or education.

Placemaking is the process of creating/transforming public spaces to better suit the needs and aesthetic of the people that live, work, and play in them. It involves things like public art, street furniture, greening and landscaping, places of gathering, public amenity, seasonal activations, and signage.

Elements of placemaking benefit all Bayside residents and visitors and the strategy will establish priorities to guide the direction of future investment and activations.

The three business functions of economic development, tourism and placemaking overlap, with interconnected areas of investment, resourcing, and success factors. Each element has a direct impact on the other and by integrating the tourism and economic development strategies, and incorporating placemaking, Bayside achieves a clear direction for each business function to maximise investment and service delivery to foster growth.

We believe a five-year strategy is an appropriate timeframe to forecast and action plans. The COVID-19 pandemic created an environment of uncertainty, and has changed how society lives, works, and travels. We are now in a better, more informed position to draft, adopt and implement a five-year strategy to support economic development, tourism and placemaking.

Following two phases of community and stakeholder engagement, the Economic Development, Tourism & Placemaking Strategy 2024–2029 is expected to be adopted by Council at its June 2024 meeting.