Spending is up in central Geelong, COGG reveals

PEOPLE opening their wallets in central Geelong are splashing more cash than ever, with new figures revealing an eight per cent growth in spending during the first half of this year compared to that of 2017.

About $600 million was spent in central Geelong between January and June, making up almost one quarter (24 per cent) of money spent across the entire municipality.

Dining and entertainment businesses are among those reaping the benefits, with a whopping additional $18.8 million poured into the sector over the first six months of 2019 compared to 2017.

On average, consumers are spending about $610,000 on food and entertainment every day in central Geelong. Professional services are also benefitting, having experienced a seven per cent increase in spend.

City of Greater Geelong mayor Stephanie Asher said central Geelong operators were in a “prime position” to benefit from the “significant government investment” into public infrastructure via the Revitalising Central Geelong partnership.

The Malop Street Green Spine as well as works to improve the city’s trouble plagued Little Malop Central are both part of the revitalise project.

“By creating a more appealing, pedestrian-friendly, sustainable and safer city, we are attracting more people to Geelong,” Cr Asher said.

Brownbill ward councillor Peter Murrihy said the figures indicated that more people were enjoying what Geelong had to offer.

“More people in central Geelong means more money in our economy, and that means greater success for local businesses.

“It’s very good to see all levels of government working together to make sure the city’s growth is sustainable and beneficial for everyone in our community.”

The latest economic data was collected by the COGG using the expenditure tracking tool Spendmapp.