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

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