Home » Bastion Study: Aussies Expect 2022 Will See A Return To Post-COVID “Normal”, As Price Hikes Top The Worry List

22 February, 2022

Bastion Study: Aussies Expect 2022 Will See A Return To Post-COVID “Normal”, As Price Hikes Top The Worry List

As we approach the two-year anniversary of the pandemic, Bastion has released a local study that reflects on how Omicron turned our Christmas and summer holiday period into another rollercoaster ride.

Concerns for personal and community health and the economy all increased, and concerns of COVID exposure prompted most Australians to change their behaviours again, with 35 per cent choosing to self-isolate, while another 20 per cent isolated due to infections (self or household). This led to flow-on impacts experienced by 86 per cent of Australians and more than one in three Australians cancelling their summer travel plans.

As we approach late February, with the worst of omicron behind us, Australians remain relatively optimistic for their personal futures, but less so for Australia as a country. While they expect a return to ‘normal’ education and shopping behaviour, and even overseas travel in 2022 there are also expectations of a price increases and interest rate rises coming in 2022, and most believe it will be at least two more years before the pandemic is no longer having a significant influence on our lives.

Perceptions of the Federal Government response to COVID has plummeted further this wave. Almost one in two Australians (45 per cent) hold negative perceptions of the Federal Government’s handling of the pandemic and at a state level, perceptions of the Federal and State Government’s COVID response are now lowest in QLD (28 per cent and 41 per cent respectively).

Australians’ confidence in employment in the next 12 months has rebounded this wave, with 70 per cent of Australians confident about their employment over the next 12 months and only 14 per cent not confident at all, with those in WA least confident (24 per cent).

2022 is an employee’s market and it will be challenging for employers to hold onto their team with our survey showing significant shifts in the workforce with 28 per cent of Australians now claiming to have changed jobs since the start of the pandemic (12 per cent increase since Nov 21), 17 per cent changed careers and 12 per cent have started a business. For those employees working from home, around 50 per cent do not expect to return to the office within the next three months.

Omicron turned Australia’s summer break into a very different one from what was expected in November last year. It heightened Australians’ concerns about exposure in most situations. With 12 per cent of the population having now contracted COVID, most Australians (69 per cent) remain somewhat vigilant to avoid infection.

The flow-on impact of Omicron to businesses was also felt by most Australians with 71 per cent experiencing product availability issues, 56 per cent delivery delays and 40 per cent impacted by staff shortages in hospitality.

When it comes to travel, Omicron blew up our travel plans, with almost one in two Australians cancelling travel plans over the break. Only 28 per cent of Australians had a holiday, 18 per cent intrastate, eight per cent interstate and four per cent overseas.

But as we approach the end of summer, there is now even more pent-up demand, with almost one in two Australians planning interstate holidays within the next three months. Consideration to travel to NSW and VIC has shown increases this wave.

While Omicron wreaked havoc over the summer period, life satisfaction remains relatively stable, and personal optimism has increased. But as a nation, our optimism remains low.

Most Australians (58 per cent) now believe COVID will have a significant impact for at least two more years, while almost 14 per cent believe COVID is here to stay (down from 19 per cent in November).

Significant price rises top the list of expectations for 2022 (84 per cent) and more than three in four expect interest rate rises as well (77 per cent). Along with this, most Australians are preparing for ongoing disruptions to events (78 per cent), product shortages (76 per cent) and significant staff shortages (71 per cent). But it’s not all gloomy, with 61 per cent expecting a return to overseas travel, 53 per cent seeing a return to ‘normal’ education and one in two Australians expecting a return to ‘normal’ shopping behaviour.

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