The economic and social impact of Sydney Fish Market

The economic and social impact of Sydney Fish Market

Sydney Fish Market (SFM) is the largest of its kind in the southern hemisphere – an icon of Australia’s seafood industry that incorporates both retail and wholesale trading and a working fishing fleet. It attracts around three million visits a year and is a major attraction for tourism, including Sydneysiders, interstate and international visitors. More than 500 seafood species are traded through the site and supply thousands of fish shops and restaurants across Sydney.

SFM commissioned Deloitte Access Economics to conduct an economic contribution study and analyse its wider economic and social impact. The impacts were explored using data provided by SFM, a dedicated consumer survey, and consultations with wholesale and retail tenants at SFM and the catching industry.

A redeveloped Sydney Fish Market: enhancing its wider economic and social impacts

In July 2014, the NSW Government appointed UrbanGrowth NSW to drive the urban renewal program for the Bays Precinct. In conjunction with the UrbanGrowth-led transformation of the Precinct, Sydney Fish Market has envisioned a complete rejuvenation to establish SFM as a world-leading market and cement its place as an iconic Sydney destination. The redevelopment is expected to transform the market’s retail precinct with a contemporary urban design, providing a fresh produce market, unique bar and dining experiences for visitors, and creating a waterfront promenade.

SFM commissioned Deloitte Access Economics to assess the wider economic and social impacts of a redeveloped SFM. The report builds on the previous report that assessed the wider economic and social impacts of SFM in its current state.

Regional trade and visitation 

While SFM is known as a Sydney tourist attraction and institution, it is also an important contributor to regional activity in NSW, through sourcing seafood from around the state and beyond, as well as by attracting tourists to Sydney who subsequently undertake tourism in regional areas. This regional analysis extends the 2016 analysis of the economic and social impact of Sydney Fish Market. The main regions which benefit from this contribution are the South Coast, North Coast and the Hunter.