The combination of school holidays, Easter and Anzac Day is expected to drive consumer spending to more than $6 billion over this period.
New data from ANZ shows the predicted spend would jump 3 percent compared to the same time last year as many Australians make the most of the consecutive public holidays.
ANZ Managing Director Everyday Banking Yiken Yang said the bank expected customers would spend up to $6.12b during the period, with the biggest splurge categories including food, travel and entertainment.
“ANZ data suggests customers will spend big on travel and experiences, eating out, and food stores – contributing to 33 percent of overall spend, with travel costs alone expected to reach $440 million as Australians look to maximise the time off,” Mr Yang said.
“Travel remains a major expense category this year, suggesting that savvy customers are looking to make the most of the numerous public holidays and enjoy a well-deserved trip away.”
Mr Yang said Victorians were spending the most of any state at $1.64b.
“We’re anticipating even greater figures across the country this year – a promising sign for local businesses as Australians prepare to wine and dine over the break.”
BIG4 Deniliquin Holiday Park owner Frank White said the demand this year started early.
“With the timing of the school holidays, Easter and Anzac Day, what would have normally been a 5-day holiday has turned into a two-and-a-half-week break for many Australians,” Mr White said.
“This year we’re seeing families much earlier than we typically do due to the school holiday period.”
