With the NRL grand final looming on Sunday I have done the analysis and the winner will be, wait for it, Sydney!
And despite the fact that the two warring teams are the Melbourne Storm and the Brisbane Broncos, the disappointed Roosters fan in me has turned to my other persona (Silver lining Switz or Positive Pete) to see the day, no, the weekend as a winner for the capital of NSW.
The Daily Telegraph has picked up on the kind of positivity that as a former academic economist I’ve always chosen not to ignore. The reasons for that positivity are many, but here are a few worth remembering:
1. The stock market rises 7 to 8 times out of a 10-year period.
2. The overall stock market return over a decade is close to 10% a year, with about half of that coming from dividends/income.
3. In the US, while recessions happen every six years, Australia went over 20 years from 1991 to 2020 without one. The 2020 recession was because of the Coronavirus lockdown.
4. The average Aussie female lives to around 83 and the average male makes it to 81 plus.
5. By 2050, Superreview.com.au says the average super balance will be close to $600,000. Right now, average retirees have about $400,000.
6. The average price of a residential dwelling has risen 71% over the past 10 years. Statista.com says by the end of last year, the average price was $ 976,800!
While I could go on, it does pay to be positive and to believe in great assets like stocks, property, super and your own life!
Back to the big win for Sydney. Here are the reasons for this grand final optimism:
1. 45,000 interstate fans are heading to Accor Stadium for the big game.
2. 3.4 million viewers will see Sydney at its best and the weather forecast is no rain and 27 degrees.
3. Hotel rooms are 85% booked as of Thursday.
4. $50 million is tipped to be spent in pubs and restaurants because of the big game.
5. It’s a job creator, with Accor Stadium alone employing around 3,000 workers for the event to make sure the 80,000 attendees have a great day.
Paul Nicolaou, executive director of Business Sydney, put the interstate team Grand Final into monetary context. “We are forecasting a ‘payday’ for Sydney businesses of at least $50 million and that’s probably a conservative figure,” he said. (Who would be surprised at the revelation that Paul once was an economics student of mine at the University of New South Wales!)
And while all this has been a litany of good economic news for NSW and Sydney, the best news is that the NRL has confirmed that next year’s grand final will again be at Accor Stadium.
While it looks like a hometown decision, happily Sydney is my hometown and winners can be grinners, even when they’re not good enough to make the grand final! Good luck to both great teams.