Wollongong is fast becoming an entertainment hub with an increase in spending on eating out and leisure activities, according to new figures by Wollongong City Council (WCC).
WCC has released an Economic Insights Report earlier this year, wrapping up the city’s overall economic status in 2023 and outlines the city’s central focus in 2024.
One of the key highlights is the total expenditure on eating out and entertainment activities in 2023 is the highest spending category within Wollongong’s CBD and the second highest across the Local Government Area.
Wollongong City Council’s Economic Development Manager Mark Grimson shared his thoughts on this rising trend, said that this recovery results from the Council’s effort and dedication to improve the quality of outdoor life after it was heavily affected during Covid – 19 period.
Wollongong’s weekly night market, which takes place in the heart of Wollongong, is the hub of independent food retailers, entrepreneurs, and local restaurants. This event not only attracts many residents but also foreign tourists to the area, driving the city’s spending annually.
Food truck manager Marbury Ma shared his excitement on the rise in the number of customers in Wollongong Central.
“I have been selling in Wollongong night market for eight or nine years now on every Thursday night,” Mr Ma said.
“There definitely has been a rise in the number of customers. I think this is because there have been a lot of tourists, especially international students that came here to study.
“We have been selling here and there. Compared to other places like Shellharbour, Kiama,… Wollongong residents create the warmest atmosphere.”
In a broader context, Wollongong’s economic statistics align with that of the Australian retail turnover report. As a whole, Australian food-related industries, cafes, restaurants and takeaway food services have been recorded to have a slight growth of 1.3 per cent in January 2024 according to figures released by the Australian Bureau of Statistic.
Changes in seasonality, Black Friday sales, and holiday seasons are the main factors shifting residents’ spending patterns.
With the data outlines Wollongong CBD accounts for 28 per cent of all jobs in Wollongong Local Government Area, as well as Wollongong’s central focus in 2024 is job growth, food – related industry is projected to reduce unemployment rate and promote the city’s economic outlook in the long run.
Image: Minh Thieu