No Light at the End of the Tunnel
The December Quarter Barometer indicates that this quarter’s results were broadly unchanged from the September quarter, with the proportion of businesses ‘extremely worried’ or ‘worried’ rising to 32%, up from 29%.
Some critical feedback we received from businesses is that “people are just not spending as much as they have in the past”, and that “with current cost of living pressures, people just don’t have the money to travel right now”.
Pleasingly, more than half of businesses surveyed remain ‘extremely confident’ or ‘confident’ in the outlook for their business over the next year, which shows more long-term confidence (compared to the next three months).
This confidence builds on the strength of the South Australian tourism industry, and is a supporting factor for the high levels of business resilience that we have seen time and time again.