Five ideas to help revive Sydney’s ailing business mojo

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The past two years have been a rollercoaster ride, but after a couple of false starts, 2022 will be the year Sydney regains its mojo. But it will need a collective effort by us all with government committing to do its bit to get the economy moving again.

Sydney’s city streets have been eerily quiet since the emergence of Omicron.Credit:Wolter Peeters

Sydney’s CBD in particular is suffering severely from a lack of foot traffic, greatly reducing spending and sending businesses closer to the wall. Staffing shortages have exacerbated business’ ability to bounce back this time from what has become a self-imposed lockdown.

Experts predict Omicron is about to peak and while we must safeguard our health, we also need to shake off the COVID-19 malaise and get on with living our lives again.

For over two years we have been plagued with uncertainty from health concerns, shifting restrictions, lockdowns, and closed borders with no clear end in sight.

Although it can be tempting to be distracted by the disruption of recent weeks as we transition to living with the virus, the fog of uncertainty is starting to lift.

With vaccination rates among the highest in the world and Omicron appearing significantly less dangerous, the fundamentals for the future of our great global city are strong.

NSW Dominic Perrottet has broadly stuck to his government’s reopening road map, despite the increasing number of cases.Credit:Nick Moir

Restrictions have been eased and with a few exceptions for health reasons, the NSW Government has broadly stuck with its reopening road map. This sends an important message to the community that yo-yoing restrictions are hopefully a thing of the past, which will make it easier for people to plan their lives professionally and personally.

The impact of Omicron will only delay the recovery rather than derail it. It is exacerbating supply chain and staffing issues and putting upward pressure on inflation. As we have seen with this variant, cases have increased well beyond levels seen in previous occurrences and continue to have a material economic impact as people isolate in a ‘shadow lockdown’ and are shopping, dining and entertaining from home.

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