CBD retail and hospitality businesses are employing hundreds of thousands of people and expanding rapidly.
That's the message from the Year One Report for the 2013-17 Melbourne Retail & Hospitality Strategy, launched today by Lord Mayor of Melbourne Robert Doyle and Minister for Tourism and Major Events, John Eren on behalf of the Victorian Government.
The Strategy is a joint initiative between the City of Melbourne and Victorian Government and has been designed to stimulate retail and hospitality investment.
Minister for Employment, Jacinta Allan said the Report painted a picture of a vibrant, diverse and expanding local retail and hospitality sector.
The four year plan focuses on innovation, diversity and sustainability, as well as opportunities to capitalise on Melbourne’s status as a leading destination for major conventions and conferences.
The Year One Report showed Melbourne’s CBD was home to 18,221 businesses and had a weekday population of 844,000 people and a weekend population of 579,000 people.
The Report estimated that 439,000 people are employed in CBD retail and hospitality businesses.
The city has a retail vacancy rate at July 2014 of just 2.5 per cent, down from 2.6 per cent in May 2013, and that the city added 54,000 square metres of new retail space during the 2013/14 financial year.
In 2014, 846 hotel rooms were under construction, while 1425 hotel rooms with town planning permits were expected to begin construction in the next two years.
The retail sector is one of Victoria’s biggest employers, providing jobs for almost 345,000 people across the state.
Victoria’s annual retail turnover of almost $70 billion accounts for more than 20 per cent of GSP, the largest share of any mainland state.
Quotes attributable to the Minister for Employment, Jacinta Allan
"Melbourne is Australia’s retail and hospitality capital and the Year One Report shows that these sectors are growing, attracting investment and creating jobs.”
“Over the past 12 months we’ve seen major international retailers such as UNIQLO, H&M and Muji establish new stores in the CBD, as well as the new Emporium Melbourne.”
“The Andrews Labor Government wants to build on this momentum and is exploring opportunities to promote retail jobs growth as part of its Back to Work plan to create 100,000 jobs."
Quote attributable to Minister for Tourism and Major Events, John Eren
"Like tourism and major events, the retail and hospitality industries are critical to a thriving Melbourne."
Reviewed 19 August 2020