Easter spend in regional Australia cracks $1 billion

Share

Share

Businesses in regional Australia saw a cracking Easter long weekend with $1.3 billion spent at small and medium sized businesses across the country, new NAB data shows*.

Australia’s largest business bank revealed spending was up 2% on Easter 2022 and more than 150% on pre-pandemic levels. By state, South Australia saw the largest growth in regional spend, up 194% on pre-pandemic levels, followed by West Australia (up 191%), Queensland (up 159%), NSW (up 105%) and Victoria (up 95%).

NAB Executive for Small Business, Ana Marinkovic, said the four-day weekend was a welcomed boost for the regions with every dollar spent contributing towards firing up local economies.

“From Hervey Bay to the Margaret River, it’s great to see our regions remain a popular destination with the return of international travellers and more Aussies choosing to holiday in their own backyard,” Ms Marinkovic said.

Car rentals saw the largest jump in spend compared to pre-pandemic levels, jumping 91%, followed by restaurants (up 66%), bars and pubs (up 58%) and accommodation (up 46%).

“We recently asked Australians how their travel plans have changed, 28% of respondents told us they were looking to travel within Australia, with another 21% saying they plan to travel within their own state or territory.

“People are being more thoughtful about where and how they spend their hard-earned cash, and for some that means choosing a domestic holiday over an overseas trip – great for home grown businesses as the pandemic has shown we love to buy local where we can.”

Owner of Ballarat restaurant ‘Johnny Alloo’, Matthew Freeman, said his team has noticed a shift in attitudes when it comes to holidaying domestically in recent years.

“We opened six months prior to the pandemic, and what we’ve seen since is a trend where regional towns such as Ballarat are becoming more popular with tourists,” Mr Freeman said.

“This may be partly fuelled by people tightening their purse strings, but I think there’s also a reignited curiosity to explore what’s in our own backyard.

“We welcomed a large number of visitors over the Easter break with many customers we spoke to visiting from the larger cities such as Melbourne and Adelaide.”

ENDS

 

Notes to the Editor:

  • Spend estimates taken from NAB merchant terminal data between 7 – 10 April 2023
  • Pre-pandemic levels: 19 – 22 April 2019
  • Regional Australia: all areas outside of metro cities

Economy

SEE ALL TOPICS

Media Enquiries

For all media enquiries, please contact the NAB Media Line on 03 7035 5015

Related Articles

  • Business

Businesses amp up green investments with electric vehicles and solar panels topping the shopping list

New data from Australia’s largest business bank shows many small and medium sized businesses are continuing to invest in new or used energy efficient equipment, with the value of the bank’s Green Finance for Vehicles & Equipment loan book growing 80% compared to the same period last year.

  • 13.06.2024
  • Time to read 2 min read
  • Scams

Aussies travelling abroad warned about international summer of scams

Australians heading overseas to chase a European or North American summer are being urged to get scam savvy to avoid a holiday from hell. Criminals are expected to target major sporting events and big international concerts, just as hundreds of thousands of Australians and their families prepare to jet off overseas.

  • 06.06.2024
  • Time to read 3 min read
  • Media Release

Families now the top users of no interest loans

More than 42,000 no interest loans have been issued in the past year by Good Shepherd and NAB, up 19% on the previous year, as Australians face cost of living pressures.

  • 31.05.2024
  • Time to read 3 min read

Quick links

Business Research and Insights

For more economic news, insights and analysis, visit NAB’s Business Research and Insights