How City of Adelaide Visitors and Residents Spent Their Money in January 2024

January 2024 saw notable shifts in city expenditure, with growth fuelled by visitor and residential spending across major events and various business sectors. This momentum is expected to continue through as the Festival Season begins.

Discover how people chose to spend their money over the month within the City of Adelaide (CoA).

Year-on-Year increase in daily spend during major events

The Adelaide International, Tour Down Under, and Adelaide Oval cricket matches saw an uptake in expenditure compared to the same event period in the year prior.

Visitor and resident spending

The overall local spend in January 2024 saw a 5.5% year-on-year growth, reaching $357.55 million, predominantly driven by visitors. In contrast, resident spending slightly declined by -2.5%, suggesting a shift in spending patterns.

Interestingly, online spending by residents grew by about 8.6%, reflecting the ongoing digital shift in consumer behaviour.

The sectors that felt the impact

Throughout the month, there were 4.29 million transactions made across the city, an increase from last January's 4.14 million. The average amount spent per transaction was a bit higher, at $83 compared to $81 before.

The impact of January's economic vibrancy varied across different sectors, with dining and entertainment at 6.3%. This sector's growth highlights the city's thriving cultural scene and its ability to attract spenders. Meanwhile, the retail sector saw 1.7% growth amidst the broader economic activity.

While spending on dining and entertainment went up over the year, dining saw a 12% increase and entertainment 15%. However, spending in bars and clubs dropped by 10%, and in hotels and accommodations, it fell by 20%. This suggests more people were booking hotels on the day or eating and drinking in hotel venues.Notably sub-categories including, trades and contractors (177%), travel and tourist activities (151%), other professional services (89%) and healthcare (16%) experienced significant upticks.

Night time expenditure

Night time spending overall decreased by 3% from the previous year. Specifically, money spent in bars and clubs fell by 18%. Last January, spending in bars and clubs made up 24% of all night-time spending, but now it's only 20%. This indicates how residents and visitors choose to spend their evenings, opting for alternative forms of entertainment and leisure.

Stay informed and connected

Interested in staying updated with more insightful information? AEDA regularly publishes industry updates and economic reports. These resources are invaluable for understanding the city's economy, population, tourism, and property markets.