A $3 billion shopping spree
The latest Melbourne retail and hospitality report has shown that residents, visitors and workers within the City of Melbourne spent $3.03 billion on shopping and dining out in 2015.
The surge has been attributed to the increase of residents, students, employees and visitors to our city.
From 2015-2016, we welcomed 11.3 million tourists and saw an increase of 9.3 per cent in international overnight visitors.
Since the last report was released in 2013, residents have spent a whopping $1.34 billion on shopping and eating out, equalling a 19 per cent increase in three years.
Workers in the City of Melbourne showed a 13 per cent increase in their spending, with $1.17 billion spent on shopping and dining.
Although high, these figures are understandable given that 800 new hospitality businesses have opened in the city since 2006, equalling to more than one cafe, restaurant or bar opening every week.
The temptation to taste these new menus are proving to be too much, as the report also shows that 95 per cent of workers buy their lunch at least once a fortnight and 22 per cent of workers spend up to $20.
Apparently our workers are fine with a little extra travel if the food is worth it, with 80 per cent willing to travel up to three blocks for lunch.
The ever-proud Lord Mayor Robert Doyle boasted about the results, naming our retail and hospitality sectors “the envy of the world”.
“There is no better city in which to eat out, shop and explore than Melbourne – the world’s most liveable city,” he said.