Melburnians Spend Big Across The Long Weekend
A whopping $950 million has been injected into the Victorian economy over the long weekend, with majority of spending going towards accomodation and retail.
The Melbourne Cup long weekend boosted Melburnians' spending, $400 million alone was pumped thanks to retail shopping.
The splurge in Melbourne's second weekend out of lockdown can also be attributed to $100 million in pubs and restaurants, approximately $18.5 million on accomodation.
Many on the green at Flemington racecourse lifted the mean spending, marking it as the race that re-started the nation.
Commonwealth Bank’s Victorian General Manager Small Business Sales, Sara Sutton, said it was welcoming to see the state provide a boost to the economy following lockdown.
“It is clear the state has well and truly emerged from lockdown. Victorians are happy to get back out in the community, celebrate their freedom and enjoy some well-deserved spending at both big and small businesses across the state,” Ms Sutton said.
“Our small business customers are telling us that they are feeling optimistic and really excited to be back doing what they love,” Ms Sutton said.
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