Australia’s service economy is staging an impressive recovery from the pandemic lockdowns.
Australian digital and online marketplace, Airtasker, has revealed its gross marketplace volume (GMV) and crossed a record annualised run-rate of more than $200 million.
In the 2021 financial year, Airtasker’s gross marketplace volume was $153.1 million and yet key markets like Melbourne and Sydney were in restrictive lockdowns this year.
Airtasker anticipates growth in the service economy
The service economy initially saw a drop in activity as some services, for example residential cleaning, hairdressing and some non-essential building works were paused.
However, the service economy continues to bounce back, as experienced with Airtasker’s gross marketplace volume increasing more than 70% since lockdowns began.
Tim Fung, the Co-founder and Chief Executive Officer at Airtasker offered some insights.
“Airtasker’s economic data is showing that Australia’s local service economy is performing well and bouncing back strongly following the COVID-19 pandemic lockdowns.”
“It’s been a tough year and a half for many service providers across the country but we are heartened to see that as the nation reopens, activity is bursting back towards growth.”