Lakes Entrance is riding a summer surge, with tourism spending in the coastal town skyrocketing and providing a welcome boost for local businesses.
According to new analysis from NAB, Australians’ love of road trips and beach holidays has driven an 80 per cent increase in spending across key holiday hotspots, adding an estimated $84 million to local economies nationwide.
Restaurants, retail outlets, and accommodation providers have been among the biggest beneficiaries.
In Lakes Entrance, accommodation spending soared by more than 600 per cent over a two-week period, highlighting the town’s popularity as holidaymakers flocked to the Gippsland Lakes region.
NAB’s analysis, which examined almost 500,000 merchant transactions, also identified a surge in activity for local boat hire businesses, reflecting the town’s status as a gateway for water-based recreation.
Julie Rynski, NAB executive for metro and specialised business, said the tourism sector’s summer peak plays a crucial role for smaller, local economies.
“Millions of Aussies are in holiday mode and enjoying a well-deserved break. Business owners in these areas are often at their busiest as the population of holiday hotspots swells,” she said.
“While visitors enjoy beach days and boating adventures, this peak period contributes a significant portion of annual turnover, particularly in accommodation, hospitality, and retail.”
The boost in trade has also created extra work for seasonal staff and additional demand for suppliers.
“A boat hire boom at Lakes Entrance is among the quirkier spend trends we’re seeing,” Ms Rynski said.
With many holidaymakers still on vacation or preparing for the Australia Day long weekend, Lakes Entrance businesses expect the busy trading period to continue, providing a significant economic lift for the region.
