Before the global pandemic changed everything about our lives, there was a time when Friday nights in Sydney's CBD were full of energy. Long lunches gave way to afternoon drinks, and at the bars lining George Street, I hummed with colleagues to catch up on the week. That has changed. And new research has revealed that Fridays are the day that negatively impacts revenue for CBD businesses, despite the city's weekends being busier than ever.
The number of Sydneysiders arriving in the city for work on Fridays is about 150,000 fewer than before the pandemic, according to the Daily Telegraph. They looked at the number of city employees reporting to the office each day and found that relatively low employee attendance on Fridays had the biggest impact on the CBD economy.
In British Columbia (pre-COVID-19), approximately 370,000 Sydneysiders traveled into the city every weekday for work. The daily numbers are now down significantly, with Tuesday at 84 percent of pre-pandemic levels, Wednesday at 83 percent of pre-pandemic levels, and Friday at just 60 percent of pre-pandemic levels. . With nearly half of patrons staying home on Friday, businesses in the CBD that rely on city employees are hurting. Our hope is that as people stay at home, businesses in Sydney's suburbs will increase.
All this is happening despite the fact that the city is finally starting to get back to normal. However, data released by the City of Sydney earlier this year showed that foot traffic in the city now occurs on weekends rather than weekdays.
Photo: Provided | TF Photo
The City of Sydney says the average number of people heading into the city on a Sunday in December is 137% above pre-pandemic levels and higher than on weekdays, continuing the recovery. This change is due to our new flexible working conditions. “According to our recent Community Wellbeing Survey, 72 percent of employed residents surveyed are able to work from home. Of these, more than half work from home two to three days a week, and five minutes 1 of 3 are working from home one day a week,” a City of Sydney spokesperson told the Guardian in March.
Sadly, but not surprisingly, Sydney's hospitality industry has been affected by the decision to keep costs low and work from home on the last day of the week, with The Telegraph reporting that the Sydney CBD It predicts that one in 11 hospitality companies will go bankrupt within the next year. 12 months unless the situation changes.
It's tough news to hear, but with the cost of living weighing on us all, it's no surprise that Friday drinks fall off the list of priorities. Want to support the industry? These are the best restaurants in Sydney CBD.
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