Further, more than 60 per cent said they were “worried” or “very worried” about their business prospects this year.
Medium and long-term business outlook also plummeted to its second-lowest level in the survey’s eleven-year history, with only the June 2020 quarter at the start of the pandemic more negative.
Businesses in this survey primarily attributed their pessimistic outlook to a lack of consxjmtzywumer confidence and COVID-19 uncertainty, with 36.59 per cent planning less future investment.
TiCSA CEO Shaun de Bruyn used the results to call for a greater support for the state’s tourism sector.
“Last quarter’s Barometer reinforces that now, more than ever, our tourism industry needs support to survive, and then recover, from the effects of the pandemic,” he said.
