How has economic reopening affected consumer sentiment and mobility?

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Economic Reopening Boosts Consumer Sentiment and Mobility

Since the economic reopening, there has been a noticeable positive shift in general mood and sentiment, largely driven by the permission for interstate travel and the subsequent boost to domestic tourism. This has been accompanied by clear signs of revival in people's mobility and traffic indicators, even amidst concerns about the Omicron Covid-19 variant.
Increased Activity in Retail and Recreation

Following the relaxation of restrictions, there has been a marked increase in visits to retail establishments, recreational areas, grocery stores, and shopping malls. Workplace visits have also shown an upward trend, indicating a return to more normal patterns of activity for many.
Improved Hotel Occupancy Rates

Hotel occupancy rates have seen a significant improvement in recent months, reaching approximately 40 to 50 per cent. This resurgence is directly attributed to the resumption of interstate travel and the influx of local tourists seeking to explore the country.
Consumer Spending Expected to Drive Recovery

A sustained revival in consumer spending is anticipated to be a key factor underpinning the economic recovery in 2022. This is further supported by a gradual improvement in the labour market, with the jobless rate showing a decline from its peak in May 2020, and substantial public investment planned through a high allocation for development expenditure in the upcoming year.

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How has economic reopening affected consumer sentiment and mobility?

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