The City of Perth economy is the envy of the country, with spending for the first quarter totalling $951 million, up from $826 million, for the first quarter of 2023.
When adjusted for inflation, that equates to an increase in spending of 11.7 per cent on the same quarter for the previous year.
March 2024 saw a 10.7 per cent increase in spending to $331 million (Source: Spendmapp) compared to March 2023 and follows increases of 18.6 per cent and 16.9 per cent in February and January respectively.
The night-time spend in March was $143 million – up 12.6 per cent on the previous year – and was the biggest March time spend since Spendmapp data began in 2019. The dining and entertainment segment was up 15.2 per cent year on year and was also a record.
Events such as the Fred Again DJ event at Langley Park, the popular Twilight Food Markets in Forrest Place and the Indian Cultural Holi Festival at Ozone Reserve all contributed to the record month.
Lord Mayor Basil Zempilas said March was another month of record spending and activity and the City of Perth economy was thriving and was the envy of the country.
“We have worked hard to bring events, such as Fred Again, to the City and Perth has become the place to come for entertainment, family celebrations, pre-sporting events and great dining,” Mr Zempilas said.
“This summer we expanded our City of Light Show series featuring drones and fireworks, Elizabeth Quay was pumping with family-friendly crowds, and we had a huge increase in the number of people in the City for the Rio Tinto Christmas Lights Trail.
“Coupled with our ongoing free night-time parking, Perth is well and truly back in the hearts and minds of people.
“These latest quarterly figures are a reflection of all of the hard work that is being done to showcase our City, with the Shine Bright in the City of Light campaign now putting Perth in the spotlight as a destination of choice for a night out, to shop and to catch up with friends.”
Twenty of the 31 days in March saw hotel booking in Perth exceeding 80 per cent.
Earlier this year, Property Council of Australia data showed office vacancy in the 6000 postcode had fallen to 14.9 per cent, the lowest it has been since January 2015 and was bucking the national trend.
ENDS
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