Recent Release | 21 Dec 2022

City of Sydney | Business Needs Survey 2022

Macro Consulting Team

Oxford Economics

Sydney Skyline

The City of Sydney commissioned BIS Oxford Economics to conduct its 2022 Business Needs Survey.

The annual Business Needs Survey is a critical source of information to support the decisions and programs the City of Sydney (the ‘City’) develops in support of its local businesses. The City first conducted the Business Needs Survey following the first lockdown initiated in response to the Covid-19 pandemic in 2020.

The results reflect the challenging macroeconomic outlook in Australia and the city. Rising interest rates, falling house prices and high inflation are expected to constrain future spending. However, the return of international visitors, students and workers will have an outsized impact on the City – particularly the parts of the City still suffering from lingering Covid-19 constraints. It should also be noted that businesses that struggled the most through the Covid-19 pandemic may not have remained open and therefore are not captured in the 2022 Business Needs Survey. The City’s economy as a whole has now recovered to pre-Covid-19 levels.

About the team

Our Macro Consulting team are world leaders in quantitative economic analysis, working with clients around the globe and across sectors to build models, forecast markets and evaluate interventions using state-of-the art techniques. Lead consultants on this project were:

Alex Hooper

Lead Economist, OE Australia

Thomas Creevey

Economist, OE Australia

You might be interested in

BoJ will continue effective zero interest rate policy anyway
BoJ will continue effective zero interest rate policy anyway in Japan

The Bank of Japan (BoJ) maintained the policy rates at its September meeting, following a tweak in its yield curve control policy in July. Although this decision was widely expected, the markets are starting to speculate policy changes within the coming quarters, especially after the BoJ governor's recent interview.

Find Out More
China city urban
Is China headed for a Japanese-style balance sheet recession?

China's weak economic activity amid a housing correction has led many investors to draw comparisons with Japan's balance sheet recession of the 1990s. Despite the different pathways, there are several similarities between China now and Japan then that may augur a similar future of a period of prolonged stagnation.

Find Out More
Japan food inflation
Food-driven inflation is unlikely to stay in Japan

As food tends to be purchased often and account for a large part in the consumption basket – 22% in CPI, excluding restaurants – price increases in food give considerable impact on households' purchasing power.

Find Out More
Access Oxford Economics' databank
Whitepaper: Using Alternative Data

Alternative data are a promising area of economic forecasting and analysis. They address some of the key shortcomings of the standard aggregate macroeconomic data, including relatively low frequency and lagging releases.

Find Out More