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 has over 6 years of economic consulting experience, working with senior internal and external stakeholders to develop quantitative and qualitative approaches for a range of strategic investments and interventions across Europe, the Middle East and Asia Pacific. Alex has undertaken a wide range of consulting projects for the public and private sectors including the viability of major new infrastructure initiatives in transport, arts and culture; strategic analysis of new city developments; the economic and social impact of innovative investment programs and recently advising a Middle Eastern government on the impact of once in a generation fiscal reform.
+61 2 8458 4219
Tom has two years of experience in economic consulting, focusing on providing insightful research and quantitative solutions that are communicated clearly and effectively to all stakeholders with strategic interests across Europe, the Middle East and Australia. He has experience in cost escalation, macroeconomic analysis and forecasts, the housing market and producing reports for various subscription services.
You might be interested in
Eurozone 2023 themes – Energy to dictate macro outlook again
The energy crisis will shape the macroeconomic outlook again in 2023, keeping the eurozone economy in recession at the start of the year and leading to a full-year contraction in GDP. We expect a gradual recovery once the energy emergency eases, as declining inflation should allow household real incomes recover. But energy rationing will be a key risk to the outlook if Europe fails to secure enough gas or adjust its demand ahead of the 2023 winter.Find Out More
EU funding cuts could trigger an economic crisis in Hungary
The Hungarian economy is being hit by a perfect storm of shocks, particularly surging inflation and a weakening currency. Our baseline forecast already anticipates a recession over the winter and inflation staying elevated for some time.Find Out More
Drivers of consumer spending across southern US metros
Our analysis of the economies of metros across the US provides us with a basis for projecting household income growth and consumer spending patterns, both overall and by market segment.Find Out More