Journalists, legal experts and true crime fanatics have converged on Morwell in Gippsland for the triple-murder trial of Erin Patterson. But how will the small regional town's economy cope - and what is the lasting effect? An RMIT expert explains.
Dr Angel Zhong, Professor of Finance
"The Erin Patterson trial has created a 'temporary boom economy' in Morwell, with accommodation near capacity and restaurants experiencing unprecedented traffic.
"In some ways, Morwell is experiencing its own version of the 'Swiftonomics' phenomenon, which we saw during Taylor Swift's Eras tour in Australia. Both events create sudden economic surges from visitors needing accommodation, meals and other amenities.
"Small regional towns like Morwell may not be equipped for the sudden demands of huge events, like this high-profile trial. The economic benefits are immediate, but they come with hidden costs: increased traffic, strained facilities, and disruption to normal business patterns.
"The town had little time to prepare its infrastructure or develop strategic plans - and the economic injection is unsustainable, risking over-expansion followed by sharp contraction.
"The post-trial economic transition will be Morwell's greatest challenge. A sudden influx can overwhelm small businesses that are not used to high demand, leading to staffing shortages or supply issues."
Dr Angel Zhong is a Professor of Finance, specialising in global financial markets, behaviour and trends.
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