Customers hit spending ace ahead of Australian Open

Consumer spending on restaurants, bars, fast food, travel and accomodation in Melbourne’s events precinct is likely to see a significant increase during the period of the Australian Open, according to analysis of ANZ customer data¹.

During the 2024 Australian Open, customer spending rose in suburbs close to Melbourne Park, with Melbourne’s CBD, Richmond, East Melbourne, St Kilda, Docklands, Southbank, Fitzroy and Collingwood enjoying a level of centrecourt advantage.

SPENDING IN SURROUNDING SUBURBS² – ANZ CUSTOMER DATA

FOOD & DRINK

• Overall spending on food and drink peaked at $1,165,000 during the 2024 Australian Open period, a marked increase from the 2024 weekly median of $592,000.
• Fast food spending reached a top of $92,000, rising above the median weekly spend in 2024 of $61,000.
• Spending on bars and clubs rose to $308,000, up from the median 2024 weekly spend of $158,000.

TRAVEL

• Overall travel in surrounding postcodes peaked at $1,483,000 during the period of the 2024 tournament, above the 2024 median spend of $603,000.
• Spending in the accommodation subcategory saw the biggest peak, rising to almost $770,000 during the 2024 tournament period, compared to the 2024 weekly median of $67,000.
• Public transport spending hit $532,000 during the same period, while total customer expenditure on car parking reached $29,000.

ANZ Senior Economist Adelaide Timbrell said: “Spending data suggests that in recent years, even in times where higher cost of living has tightened household budgets, one-off events can cause a spike in discretionary spending.” 

“Local businesses are likely to benefit from the prominence and one-off nature of major events, as tourism spending expands from the event itself to related discretionary goods and services,” said Timbrell.

Australian Open Tournament Director, Craig Tiley said: “As one of the world’s premier sporting events, the impact of the Australian Open goes far beyond what happens on the court. We’re proud of the boost the Australian Open provides to local industries and small businesses, especially in the tourism, hospitality and retail sectors.

“The support domestic and international fans give not only to the stars on the court, but also to the local Melbourne and Victorian economy, is central to the Australian Open’s ongoing success,” said Tiley.

Footnotes

1. ANZ customers who made a transaction with Tennis Australia during January 2024 in any of the below postcodes.

2. Refers to postcodes 3000, 3002, 3004, 3006, 3121, 3065 & 3066.

For media enquiries contact:

Will Watson

External Communications Manager, Institutional

Tel: +61 403 878 269

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