Restaurants and foodservice operators are poised for one of their strongest Lunar New Year seasons yet, as new data from ANZ bank projects Australian consumers will spend $5.4 billion during this year’s celebrations — a 5.4% jump over the prior year.
The spending window runs through to 3 March, marking the Year of the Horse. Food and beverage is among the top spending categories fueling the surge, alongside travel, entertainment, and household services — a strong signal for restaurateurs in markets with significant Asian communities.
The numbers build on an already strong 2025 season, when Lunar New Year spending climbed 4.1% to reach $5.1 billion. Since 2023, entertainment spending has grown at an average annual rate of 6.5%, reflecting what ANZ describes as expanding celebrations and rising consumer demand.
Gets bigger and better every year
For operators in cultural dining hubs, the impact is tangible. Ron Lim, owner of West Lake restaurant in Melbourne’s Chinatown and an ANZ business customer, says the holiday has become one of the most important on his calendar.
“Lunar New Year gets bigger and better for us every year,” Lim said. “We see families returning, new customers exploring Chinatown, and a real sense of community pride. It’s one of our busiest and most vibrant times, and the celebrations play a huge role in supporting local businesses like ours.”
ANZ Acting Managing Director of Retail Products Kate Britton said the consistent year-over-year growth reflects how the holiday is scaling across the country. “Lunar New Year is a meaningful time for many,” she said, “and we’re glad to play a small part in supporting customers as they mark the occasion in their own ways.”
The data, drawn from ANZ credit and debit card transactions, also found that men and women show similar spending patterns during the festival, with strong crossover interest in travel, beauty, books, and household categories — rounding out what is shaping up to be a broad-based consumer spending event with restaurants at its centre.
