Warrnambool Economic Data

Council regionsAs the largest Victoria coastal city outside of Port Phillip Bay, Warrnambool is the major service centre in the Great South Coast region.

Employment strengths are in the service sectors of health and community, education, food processing, government, retail trade and tourism. Industrial and business activities also occur in the City that supports the broader agricultural and other industry value adding activities.

Great South Coast Region – 6 LGAs Colac-Otway, Corangamite, Moyne, Warrnambool, Southern Grampians and Glenelg. Population 126,000… an increase of circa 3,300 persons over the past decade at 0.3% AAGR

Remplan Data

Victorian Regional Cities - Estimated Resident Population 2010-2020

Population graph

source: ABS Cat. 3218.0 Regional Population growth, Australia

What size and/or rate of growth for Warrnambool? Planning for a population of 50,000 by 2040.

Historic and Projected population, Warrnambool 1986 to 2036

Population growth graph

source: ABS Regional population growth Cat. 3218.0 Forecast ID Warrnambool City Council

Warrnambool’s Economic Diversity Index

  • Warrnambool ranked 33 of 543 LGAs on Economic Diversity Index*
  • Top 6% of all LGAs in Australia

*Economic diversity aims to measure the distribution of activity across an economy. A diverse economy will have activity in all sectors, becoming more diverse as the activity is more evenly distributed across industry sectors. Conversely, an economy which is not diverse will have concentration of activity in a single or very small number of industries.

REMPLAN Economic Diversity Index

Diversity Index score

Warrnambool Business Counts (jobs)

Staff size Warrnambool Great South Coast Victoria
Non employing 1,476 (53.91%) 7,886 (57.79%) 394,915 (60.26%)
1-19 1,168 (42.66%) 5,456 (39.99%) 244,574 (37.32%)
20-199 91 (3.32%) 295 (2.16%) 14,741 (2.25%)
200+ 3 (0.11%) 8 (0.06%) 1,165 (2.25%)
Total 2,738 13,645 655,395

 

*Warrnambool businesses employ more than GSC and VIC in terms of the percentage of employing businesses as shown above.

COVID-19 Impact on Warrnambool Industries

Our economy has been resilient even throughout COVID-19:

Industry Apr-Jun 2020 Apr-Jun 2021
Agriculture, Forestry & Fishing $15,038,772 $15,501,508 (3.08% ↑)
Mining $437,702 $459,884 (5.07% ↑)
Manufacturing $133,708,203 $137,108,020 (2.54% ↑)
Electricity, Gas, Water & Waste Services $65,336,359 $69,204,718 (5.92% ↑)
Construction $139,777,364 $146,0224,530 (4.47% ↑)
Wholesale Trade $57,620,897 $62,655,947 (8.74% ↑)
Retail Trade $60,629,185 $69,060,628 (13.91% ↑)
Accommodation & Food Services $49,043,086 $54,392,240 (10.91% ↑)
Transport, Postal & Warehousing $34,531,504 $36,359,778 (5.29% ↑)
Information Media & Telecommunications $24,989,459 $26,070,842 (4.33% ↑)
Financial & Insurance Services $60,528,384 $63,340,584 (4.65% ↑)
Rental, Hiring & Real Estate Services $112,408,953 $118,252,989 (5.20% ↑)
Professional, Scientific & Technical Services $51,379,872 $53,542,755 (4.21% ↑)
Administrative & Support Services $34,606,081 $36,262,547 (4.79% ↑)
Public Administration & Safety $44,576,388 $47,259,343 (6.02% ↑)
Education & Training $59,330,390 $65,387,386 (10.21% ↑)
Health Care & Social Assistance $103,181,204 $108,606,319 (5.26% ↑)
Arts & Recreation Services $10,148,783 $11,339,786 (11.74% ↑)
Other Services $21,724,671 $24,501,457 (12.78% ↑)
Total $1,078,997,256 $1,145,331,260 (6.15% ↑)

VIC Government Support through COVID-19

As of 23 March 2022, 628 applicants from businesses in the Warrnambool City Council have been approved to receive a total of $21,223,000 in Victorian business support grants under:

  • the Business Costs Assistance Program
  • Business Costs Assistance Program Round 2
  • Licensed Hospitality Venue Fund 2021
  • Small Business COVID Hardship Fund programs and their subsequent extensions and automatic top-up payments in 2021 and 2022

Below are the applicants by top industries

  • Accommodation and Food Services    25%
  • Retail Trade    18%
  • Other Services    18%
  • Health Care and Social Assistance    11%
  • Administrative and Support Services    5%
  • Arts and Recreation Services    5%

Warrnambool Spend Data (Spendmapp by Georgrafia)

Spendmapp uses real, continuous and comprehensive bank transaction data to create a moving picture of local economy. It shows how long-term trends are reshaping activity and how short-term shocks, events and economic development initiatives impact spending in different sectors. Total Local Spend is the sum of Resident Local Spend and Visitor Local Spend. It represents the entire amount of expenditure that is known to occur with merchants based in the specified location.

There are 14 Spend Categories and the above data are extracted to provide a snapshot of Retail Industry in Warrnambool.

Spend Categories Jul 18 -  Jun 19 Jul 19 – Jun 20 Jul 20 – Jun 21 Jul 21 – Apr 2022
Total Local Spend $738.45M $778.41M (5.41%↑) $891.11M (14.48%↑) $779.83M
Visitor Local Spend $305.19M $315.67M (3.43%↑) $365.97M (15.94%↑) $328.43M
Resident Online Spend * $157.05M $180.10M (14.68%↑) $221.41M (22.93%↑) $222.29M

*Online spending has been growing significantly.

Total Local Spend      

  • 13.8M transactions
  • $67 average transaction value
  • Peak month: Dec 21 ($105M)
  • Trough Month: Aug 21 ($62.7M)

Visitor Local Spend

  • 4.78M Transactions
  • $80 average transaction value
  • Peak month: Dec 21 ($46.8M)
  • Trough Month: Aug 21 ($23M)

Top 10 Visiting Suburbs/Regions to Warrnambool for Spending

Suburbs/Regions Value ($) % in total top 100 spending suburbs/regions
1.Moyne – West $74.05M 26.57%
2.Moyne – East $57.93M 20.79%
3.Portland $24.62M 8.83%
4.Corangamite - South $22.63M 8.12%
5.Glenelg (VIC) $14.04M 5.04%
6.Hamilton (VIC) $13.56M 4.72%
7.Southern Grampians $9.21M 3.30%
8.Corangamite – North $8.75M 3.14%
9.Camperdown $5.86M 2.10%
10.Colac $3.84M 1.38%
    85.45% ($278.72M in total)
  • The top 10 suburban areas are all located in neighbouring LGAs and as a result, their ranking hasn’t changed much in the last three years. Their spending in Warrnambool has been consistent and strong.
  • Their spend is up to 85.45% out of Total Visitor Spend.
  • For Warrnambool businesses, the list can be used for marketing purpose to define major target markets to attract to.

Top 10 Escape Suburbs/Regions by Warrnambool for Spending

Where do Warrnambool residents go to spend money outside the LGA?

Suburbs/Regions Value ($) % in total top 100 spending suburbs/regions
1.Moyne – West $9.69M 12.10%
2.Geelong $6.63M 8.28%
3.Melbourne $5.96M 7.45%
4.Ballarat – North $3.86M 4.82%
5.Colac $2.30M 2.87%
6.Corangamite - South $2.17M 2.71%
7.Moyne - East $2.12M 2.65%
8.Portland $2.10M 2.63%
9.Grovedale $1.84M 2.30%
10.Southbank $1.79M 2.24%
    48.04% ($80M in total)
  • Warrnambool residents’ escape suburbs are way more fragmented compared to incoming visitor profiles.
  • The total of Escape Spend by Warrnambool residents is less than 1/3 of incoming visitor spend as shown above.
  • For Warrnambool businesses, this strong Resident Local Spend would be a positive aspect.

Major Spending Categories

Where do our residents and visitors spend money?

Total Local Spend (May 2021 – April 2022)

Expenditure Category Value ($) % in Total Local Spend
1.Grocery Stores & Supermarkets $175.93M 19.12%
2.Dining & Entertainment $162.19M 17.63%
3.Transport $93.43M 10.15%
4.Professional Services $93.20M 10.13%
5.Department Stores & Clothing $82.83M 9%
    66.03%
  • Transport is one of the 14 expenditure categories that includes vehicle dealers, vehicle wrecking yards, car washes, transport operators (e.g. bus services), tyre stores and other automotive parts and accessory dealers.
  • Professional Services includes medical and allied health services, accounting and legal services, educational services and IT.

Visitor Local Spend (May 2021 – April 2022)

Expenditure Category Value ($) % in Total Local Spend
1.Dining & Entertainment $68.66M 17.86%
2.Grocery Stores & Supermarkets $51.88M 13.49%
3. Department Stores & Clothing $41.27M 10.73%
4.Transport $40.52M 10.54%
5.Professional Services $39.02M 10.15%
    62.77%