A snapshot of the financial impact of COVID-19 reveals the Bendigo region has been harder hit than most.
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Analytics consulting firm Taylor Fry's COVID-19 Financial Impact Index shows that some central Victorian towns are among the 10 per cent of Australian postcodes most financially affected by COVID-19.
Taylor Fry principal Alan Greenfield said Bendigo is fairing worse than towns in the surrounding regions.
"Bendigo services a lot of surrounding regions, so the town itself has a higher proportion of service industries, such as hospitality," Mr Greenfield said.
"Those industries are more impacted by COVID-19 and have been restricted in what they've been able to do.
"There hasn't been an ability to go to bars and pubs."
Bridgewater, Maiden Gully, Huntly and Strathfieldsaye are some of the suburbs in the 90-100 decile of the index, representing the 10 per cent of postcodes most financially impacted.
The higher the index score, the bigger the negative financial impact is compared to before the pandemic.
Negative financial impact refers to a reduction in a person's ability to meet their pre-pandemic cost of living.
The index provides an estimate of financial impact by considering income and expenditure.
Be.Bendigo chief executive Dennis Bice said Bendigo's economic fortunes hinge on keeping people employed.
"The more we can work on keeping people employed, the better the opportunities for us," Mr Bice said.
"We are fortunate to have some major projects in Bendigo over the next few years and investment coming into the city."
"This means some investment is coming into the city and with potentially three new hotel developments, that will also support our tourism industry."
Mr Greenfield said Victoria finds itself more affected than other eastern states.
"Total wages in Victoria dropped almost seven per cent compared to 5.4 per cent nationally between March 14 and May 2," he said.
"Victoria has been hit harder by a higher proportion of people employed in impacted industries."
Australian Bureau of Statistics data shows that jobs in Victoria dipped 8.4 per cent between March 14 and May 2, the biggest decline nationally.
The average national decline during this period was 7.3 per cent.
Bendigo and Castlemaine are among the towns in the 80-90 decile, according to the index.
Mr Bice said the long weekend was incredibly busy for local traders and hopes it is a sign of things to come.
"I'm not sure we are seeing people staying overnight, but there appeared to be plenty of day visitors out and about, spending money and supporting businesses," he said.
With a further easing of the state government's restrictions planned on June 22, Mr Bice is hopeful Bendigo will be a popular destination to visit in the school holidays.
"The challenge is to continue working with the restrictions that are in play," he said.
"We want to be able to eventually, work our way back to whatever normal will look like."
Victoria recorded no new coronavirus cases yesterday, with the state's tally remaining at 1687.
There are 64 active coronavirus cases in Victoria and none in central Victoria.
You can view the full financial index here.
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