Aussies ‘spending more with credit cards in rural areas’
Posted on May 31st, 2011
People in rural areas of Australia are spending more than those who live in metropolitan locations, according to a new study.
The ANZ Small Business Sales Trends series found that regional and rural small businesses had seen a 1.9 per cent growth in trade during April 2011.
This is in comparison with the minus 0.1 per cent that it saw for firms that are based in bigger locations.
ANZ head of economics and property research Ivan Colhoun explained that the results are found by processing the value of credit card and eftpos transactions seen in the banks system for firms with an annual turnover of $5 million or less.
Mr Colhoun said it is likely to be down to Australias two-speed economy, with “regional areas in general benefiting more from the commodities boom and metropolitan centres arguably more impacted by the Reserve Banks restrictive monetary policy”.
A recent study from the Australia Institute suggested that many consumers are using their debit cards and other payment options to save money by shopping online.
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Tags: Areas, Rural Areas
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