The
latest National Australia Bank's consumer spending report shows that eating out
is on the rise and that spending in regional areas is showing a faster rate of
growth than in metropolitan areas.
Overall,
spending growth was fastest for Accommodation, Cafes, Pubs & Restaurants
(13.5%). Economist
and adviser to Dun and Bradstreet, Stephen Koukoulas, commented on Smartcompany's website that increasing consumer focus on spending on
experiences, and fast paced lifestyles was leading to more individuals eating
out. “You’re getting a well-off group of people who are spending things on
services, not goods. They’re buying nice things, rather than buying on goods,”
Koukoulas says.
Overall
spending in cities grew by 2.9% over the year while some regional areas
recorded growth above 15% with Murrindindi Shire (the area around Kinglake and
Alexandra) and Buloke (Birchip, Charlton, Donald) showing the highest rate of
growth in Victoria.
NAB's
customer spending excludes mortgages and other credit facility payments and
government services.