November concert boom to lift fast-food spending by up to 34%

Three major concerts are expected to boost spending in Sydney to $424m.

Spending in fast-food chains around Sydney’s central business district (CBD) and Accor precincts is expected to increase by 34% this November as three major concerts kick off, according to the National Australia Bank (NAB).

The business boon kicks off with iconic band Metallica playing its only Sydney show this 15 November, followed by rockers ACDC playing on 21 November and 25 November.

NAB Executive Small Business Krissie Jones, said the bumper 10 days would be among the city’s busiest for the year as tens of thousands of fans flock to restaurants, bars and hotels.

“Concerts like this aren’t just cultural highlights – they're economic powerhouses. About $334m is spent in the Sydney CBD, inner suburbs and Accor Stadium precinct every 10 days. We expect that’ll increase by about 26% to about $424m, boosting an extra $90m into the economy,” Jones said.

Aside from fast food, general merchandise stores expect an increase of 131% in spending. The accommodation industry is expected to get a boost of up to 81%. Meanwhile, Bars and pubs are expected to increase by up to 49% whilst restaurant spending is expected to increase by up to 24%.

More than 210,000 people are expected across the three concerts.