What’s Keeping Adelaide’s Economy Busy in October 2023

Last updated 26 Oct, 2023

As October unfolds, Adelaide is buzzing with activity. The city's visitor economy is exceeding 2022 levels, showing remarkable growth, and here's why:

Festivals Galore:

  • Nature Festival (1 - 15 October): More than 30 events took place in the city as a part of Nature Festival.
  • WellFest Adelaide (6 - 8 October): The third annual event showcased more than 70 wellbeing events and experiences across the city.
  • Adelaide Film Festival (18 - 29 October): Recognised as one of Australia's premier film festivals, globally ranked among the top 50 film festivals by Variety, and recipient of the esteemed 2021 Ruby Award for Best Festival.
  • OzAsia Festival (19 October - 5 November): In 2022, this festival attracted thousands to the city, elevating dining and entertainment expenditures, with activity levels soaring 7% above the 12-month average. The excitement continues in 2023, with over 85,000 visitors during the first four days of performances and community events at Adelaide Festival Centre and around the Riverbank precinct.
  • ADL Fashion Week (20 - 22 October): The city’s premier fashion festival, showcasing the best of fashion in Adelaide through the newly created program for 2023. This three-day festival attracts shoppers and visitors from across South Australia to the CBD.
  • Harvest Rock (28 - 29 October): The inaugural 2022 event brought close to 24,000 festivalgoers to Adelaide’s Park Lands and generated $16.5 million in total economic activity for the city, boosting restaurants, bars and cafes. Notably, one-third of attendees travelled from out-of-state, leading to record-high hotel room bookings for that weekend.

Business Events Thrive:

  • Adelaide Business Events forecasts more than 6,000 attendees at various business events and conferences throughout the month.
  • The Australian International Education Conference (10 - 13 October) brought in more than 1,700 international education practitioners, teaching staff, researchers, policymakers, and agents from across the world.

Spring Shopping Spree:

  • Adelaide's spring weather is drawing families to indulge in outdoor shopping at Rundle Mall. A plethora of free activities for kids during the school holidays added to the excitement.

Predicted Record-Breaking Cruise Season:

  • The 2023/24 cruise season kicked off early, with Princess Cruises' Grand Princess gracing the newly renovated Port Adelaide Cruise Terminal on 26 October carrying 2,590 passengers and 1,100 staff.
  • An impressive 124 visits are scheduled across the state and is poised to surpass last season's record. In 2022/23, there were 103 cruise and expedition ship visits, injecting a substantial $215 million into the state's economy and supporting 704 jobs.

New Hotel in the Mix:

  • Hotel Alba recently opened on South Terrace, joining TRYP and Vibe in the city's expanding list of new hotels.

Exciting Developments Ahead:

  • The construction of the $200 million GPO Hotel Marriott is progressing, with plans to open in the first half of 2024.
  • Ground had broken at the $400 million Market Square development next to the Adelaide Central Market, creating what will be a new social and commercial hub for the city, estimated to be completed by 2026.

Uncover additional data, the most recent economic reports, and PowerBI Dashboards to gain a comprehensive understanding of the city's economy, population trends, and the commercial and residential property markets, by visiting the Data & Insights page.