Consumer spending surges in hospitality venues

Consumer spending rose 7.9% in May 2022 with hotels cafes and restaurants up 10.3% compared to the same time last year,
according to new data from the Australian Bureau of Statistics (ABS).

Tasmania saw the strongest consumer spending in hotels, cafes and restaurants (+19.3%), followed by Queensland (+18.4%), and South Australia (+16.2%).

NSW was up 9.8%, Victoria was up 7.6%, Western Australia was up 7.3% and the ACT was up 5.7%. The only region to suffer a fall in hotel, cafe and restaurant spending was the Northern Territory (-3.8%).

Jacqui Vitas, head of macroeconomic statistics at the ABS, said household spending increased in all spending categories, with the largest increase in spending on services (10.2%).

“Strength in the services categories was driven by transport (up 14.5%), as air travel continued to recover, and higher petrol prices increased motor vehicle running costs.”

All states and territories recorded increases in household spending in May 2022, compared to May 2021. Queensland (10.4%), South Australia (10.4%) and Victoria (9.1%) recorded the strongest increases in spending through the year.

Compared to pre-pandemic January 2020 estimates, total household spending was 10% higher in current price, calendar adjusted terms, reflecting recovery in most spending categories.

Transport (down 2.3%) and hotels, cafes and restaurants (down 1.6%) remained the only spending categories below pre-pandemic levels.

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Categories: Business