Business
The reported demise of the nation’s CBDs greatly exaggerated: research – Sydney Morning Herald
The demise of the CBD is greatly exaggerated, according to PwC, which says a new wave of activity is likely for our most economically important areas.
PwC Australia chief economist Jeremy Thorpe said rather than dying, the CBDs were changing forms and giving new businesses an opportunity in our biggest cities.
CBDs have been really badly hit, and retail in the CBDs has been decimated because they rely on foot traffic around them. And the move by shoppers to digital has also hit them, he said.
The CBDs of cities like Melbourne will recover, with PwC saying the reported death of the inner cities is an exaggeration.Credit:Wayne Taylor
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