- Supporting local is cited as one of the best ways consumers can support economic recovery
- 60% of people in NSW don't mind spending more to shop local
- Westpac has release recent research findings
Four in five Aussies are planning on travelling when restrictions ease (80%) but many are also consciously supporting local businesses too according to research by Westpac.
Within the most populated state, New South Wales, one in two people are not planning on crossing borders.
Rather they will be looking at supporting local bars and restaurants (50%), enjoying leisure activities (42%), going shopping (38%), and visiting local attractions (29%).
Westpac Managing Director Business Lending, Shane Howell, explained that state and international border restrictions have created challenges in the tourism sector.
“It will be a welcome boost for the visitor economy as well as the nation’s economic recovery that Aussies are planning to spend and enjoy their own backyard,”
Shane Howell, Westpac Managing Director Business Lending
“Extended time at home and an increase in consumer deposits during lockdown means that residents are raring to treat themselves to a trip.”
“Our customers are telling us there has been a surge in online travel and accommodation bookings, and restaurants and cafes in popular spots are booking out for the next couple of months,” Mr Howell said.
Aussies are actively choosing to support local.
The Westpac research also found that spending with local businesses is a priority with four in five people (80%).
Three in five (60%) people in New South Wales do not mind spending more in order to shop locally.
The best thing consumers can do to help economic recovery is to support local, according to Westpac business owners and operators.