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Analysis from Westpac Economics has revealed that if every Australian household made the decision to redirect $100 a week of existing spending towards purchasing Australian-owned goods and services, the economy would grow by $16 billion over 12 months. The move would generate nearly 40,000 new Australian jobs, according to the research which traced a $100 a week household reallocation through ABS data on the supply and use of products in the economy to estimate the impact on GDP and employment. Westpac said the simple shift would account for just 4 per cent of the average existing household budget, yet it would result in a major boost for local jobs and the Australian economy. More than one third of the new jobs would emerge in manufacturing, retail trade and accommodation and hospitality industries. These industries are dominated by small to medium enterprises (SMEs) which make up between 90 per cent and 96 per cent of businesses within them — underscoring how changes in domestic demand are likely to be felt strongly among smaller businesses. The staggering uptick for the nation would be an economic stimulus package of game-changing proportions, funded not by government, but by simple consumer choice. Paul Fowler, Westpac Chief Executive, Business & Wealth, said every dollar spent locally “multiplies through our communities and strengthens our national resilience.” “That’s the power of backing Australia – supporting Australian enterprise isn’t just good sense, it’s essential for our future prosperity,” Mr Fowler said. “Australia is home to world-class farmers, winemakers, manufacturers, and service providers who are making an impact globally. By backing local businesses, we’re celebrating what makes our country unique and increasing career opportunities in Australia. “When you choose to spend locally, you’re not just buying a product or service – you’re investing in jobs, supporting your neighbours, and helping communities flourish.” Australian Made chief executive Ben Lazzaro said recent global economic uncertainty and challenging market conditions have highlighted the importance of supporting Australia’s manufacturers and producers. “Now is the time for Aussies to help Aussies. When we support our local makers, growers, farmers, and manufacturers, we not only get products made to Australia’s high standards, we can also assist local industries that may be facing reduced exports,” Mr Lazzaro said. Want to read more of the stories you love on one of our state news websites? Click here to sign up for a free trial and access 12 locked articles on web over 12 weeks. Limits and T&Cs apply. Xanny Christophersen, who runs Priestley’s Gourmet Delights in Brisbane which supplies sweet and savoury treats to 27,000 cafes nationally, said the company was proud to support as many local suppliers as possible. “We are family owned and operated and proudly Australian,” she said of Priestley’s, which produces 270,000 units of cake each week, including cheesecakes, slices, muffins, individual desserts, cookies, lamingtons, pavlovas and quiches. “We source local goods and services whenever we can, including Bundaberg sugar, carrots from Kalbar and toppings from Trisco Foods which is close by. We have also had a long association with Sunny Queen Eggs.” With the help of experts from Westpac, Priestley’s successfully applied for a $2.5m Made In Queensland grant that enabled the 30-year-old business to move to new automated premises – the first of its kind for the sweet and savoury industry and which allowed the firm to employ another 26 people. “The focus has been on creating a better experience for our people because even with automation, every product is still hand-finished with care and made with love,” Ms Christophersen said. “Our philosophy is that we never lose – we either win or we learn. We don’t stand still, we are always asking ‘what if?’ and striving for more. “That’s what makes a great Aussie business.” The Westpac $100 spending shift findings come as Roy Morgan research shows Australians remain overwhelmingly committed to buying Australian-made products, with support sitting at a consistent 95 per cent, and 70 per cent willing to pay more for Australian-made products. But in the first six months of 2025, Australians’ willingness to buy US goods and services plunged 14 per cent to 40 per cent, amid tariff talks, while willingness to buy Chinese products has nearly doubled to 34 per cent since the pandemic. Separate to the Westpac findings for the $100 shift in existing spending, Roy Morgan also found that if households spent an extra $10 weekly on Australian-made products, an additional $5.6 billion would be generated and create almost 10,000 new jobs. “Australians’ preference for Australian-made is unshakeable,” Roy Morgan chief executive Michele Levine said. “However, international preferences have shifted sharply and underline how geopolitics and leadership matter in shaping consumer attitudes.” Historically, the “Buy Australian” message has been a recurring theme during times of economic distress. During the Great Depression, governments urged citizens to support local industries, while the “Australia Made” campaign gained traction in the 1980s to combat the influx of foreign imports following tariff reductions. The Westpac report also suggests the spending change could be an answer to Australia’s sluggish growth and cost of living squeeze. This article is part of the Back Australia series, which was supported by Australian Made Campaign, Harvey Norman, Westpac, Bunnings, Coles, TechnologyOne, REA Group, Cadbury, R.M.Williams, Qantas, Vodafone and BHP. Originally published as How $100 a week on Australian-owned goods and services could supercharge our economy
