Bank data reveals huge spending increase during Beef 2021
Spending on hotels and accommodation during Beef 2021 increased by 180 per cent compared to the same time last year.
New data from the Commonwealth Bank Australia on merchant transactions over May 2 to 8 revealed the positive local economic impact of the event.
Compared to the same time last year, entertainment spending grew by 172 per cent and spending at clothing stores was up 151 per cent.
Spending with service providers such as financial institutions increased by 164 per cent.
Transportation spending such as taxis, buses and at airports, rose by 149 per cent.
“Beef Australia plays an important role not only in the cattle industry but for many local businesses and the Rockhampton economy, particularly given the challenges the past year has had on regional Australia,” CBA Business Banking executive manager Sharon Smith said.
The 2021 event had 115,866 people through the gates, up from the 100,000 persons at the 2018 event.
“With record attendance this year, it was so great to see the flow on impacts for local businesses – restaurants and hotels were at full capacity as people came from far and wide across the country to experience what Rockhampton has to offer, and they weren’t disappointed,” Ms Smith said.
“Agriculture remains an important source of support for local communities and with ag confidence at a high, it’s positive to see the commercial benefits across the wider regional economy.”