The Mid North Coast economy was hard hit by the Sydney lockdown over the June/July school holidays.
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Now Regional Development Australia Mid North Coast internal analysis shows the extent of the economic impact.
Port Macquarie and Coffs Harbour lost about $44 million in economic input across the June/July school holidays due to the Sydney lockdown, the analysis shows.
That equates to a loss in excess of $50 million in the fortnight of the school holidays across the Mid North Coast.
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Regional Development Australia (RDA) Mid North Coast chair Kieren Dell said it amounted to a drop in economic output of just under half a per cent in a two week period.
Greater Sydney is our region's largest visitor market with tourism an important revenue source for many businesses.
The Greater Sydney lockdown has been extended until the end of September, while all of regional NSW will remain in lockdown and under stay-at-home orders until August 28 when the situation will be reviewed based on case numbers and viral spread.
Mr Dell said the RDA Mid North Coast internal analysis showed why it was so tough for businesses at the moment.
"The accumulation of what might have been anxiety last year to despair and anger amongst many businesses is quite palpable now," he said.
Mr Dell believes some businesses just won't survive.
"I think the accumulation of the various lockdowns, the emotional, the financial, and other pressures mean we are going to see businesses close," he said.
Regional Development Australia Mid North Coast is looking to act as a conduit for information and provide the government with a full understanding of the hit to the economy.
Mr Dell advises business operators not to stress too much about what they can't control.
He said it was also important to have negotiating skills with banks and landlords, and seek help, if needed, in navigating the government assistance.
Mr Dell said business owners also had to be prepared to make some tough decisions as well as look to the future.
"Keep thinking about how they improve what they do when they reopen, assuming they can, and stay as positive as they can," he said.
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