A “retail revolution” is expected to see western Sydney’s booming population pump an extra $12 billion into a powerhouse region over the next decade.
As the State Government prepares to overhaul its retail strategy, various reports predict a business bonanza for Parramatta, which will be at the heart of a new Central River City, part of the Greater Sydney Commission’s 40-year vision for a “Metropolis of Three Cities”.
An independent report by Urbis says there will be an astronomical rise in retail spending across the west – where an additional 433,000 people are tipped to live by 2026 – as influential Millennials spend up big.
“A strong youth demographic, coupled with more workers, students and residents, will broaden the demand for new forms of retail and boost the evening economy,” the report states.
“New international retailers, funky cafes and small bars have started the Parramatta retail revolution.”