Business
Coronavirus Australia: Suburban cafes go strong as cities empty – The Australian Financial Review
Consumer spending data shows central business districts in Melbourne and Sydney have hollowed out while the suburbs have seen a renaissance.
Weekday mornings are pumping, new customers are swinging by and now, as Melbourne emerges from its second lockdown, weekends are booked out.
National Australia Bank group chief economist Alan Oster said hospitality spending in the suburbs of Australia’s capital cities is up, but he said spending wouldn’t suddenly shift back to CBDs as employers reopened offices.
“It’s not going to drop but it’s not going to grow at the same pace,” Mr Oster said.
Downtown Melbourne’s share of hospitality spending…
Continue Reading