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