Cats flag pumps up Geelong’s economy

GEELONG’S economy bounced back strongly in the September quarter, including a strong kickalong from the Cats’ AFL premiership victory.

But local businesses’ search for workers is still proving a challenge as the pool of available staff continues to shrink.

The City of Greater Geelong reported in its latest economic development figures that $1.4 billion was spent in the municipality during the September quarter.

Overall spend was up by about a third and visitor expenditure was 50 per cent higher than the same time last year – an unsurprising jump given 2021’s figures were heavily affected by COVID-19.

But the figures also indicate Geelong businesses are struggling to find the staff to fully capitalise on increased activity.

There were more than 11,000 job ads posted online during the quarter as businesses clambered to access a still-diminishing labour market.

The region’s unemployment rate fell from already historic lows to 2.4 per cent – about 1 per cent lower than the national average.

The overall spending figures were propped up by a late surge at the end of September when the city prepared for – and then celebrated – the Cats’ Grand Final performance.

Spending on dining and entertainment was up $4.8 million between September 19-25 according to the city’s analysis of Spendmapp data.

The spike was a 26 per cent jump on the average for August-September.

Stock-ups for Grand Final watch parties also saw an uptick, with an extra $3.4 million turned over at supermarkets and specialised retailers such as bakeries, delis and bottle shops.

Residents and visitors also spent an average of $671,160 from Monday-Friday either side of the decider – 54 per cent more than usual.

That uptick peaked on the day of the Cats’ premiership parade, which was 65 per cent up on the average Tuesday for the period.

Geelong mayor Trent Sullivan commended local businesses for making the most of their opportunity.

“It’s no surprise that visitor and resident spending increased when there were so many quality retail, hospitality and entertainment offerings available,” he said.

Chair of the council’s economic development portfolio Cr Peter Murrihy also welcomed the spending boost.

“The region’s businesses met increased demand with gusto and provided products and services that added something special to celebrations,” he said.

“The $4.8 million in increased dining and entertainment spending has strengthened businesses, supported local jobs and produced significant benefit to our economy.”

The city says it spent $189,600 providing Grand Final events for an estimated economic return of $13.5 million – about 70 times its outlay.