Two tales emerging about downtown: DVBA report

There are two stories being told about downtown Victoria, says a new analysis released this morning by the Downtown Victoria Business Association.

With 5% more business licences issued, and tourism and industry thriving, the DVBA’s 2024 Annual Report says the numbers show the region’s downtown is enjoying economic growth. However, there is also a growing sense of unease — a survey found almost 20% of businesses believe downtown is failing.

“That is the highest percentage since we began surveying members,” the DVBA report states. “It is alarming.”

More than two thirds of all people who patronize downtown come from within Greater Victoria, which means that the entire region has a role to play in the narrative of this important neighbourhood.

“The Chamber strongly supports downtown and the work of the DVBA and the City of Victoria to make the area vibrant and safe,” Chamber CEO Bruce Williams said. “We are a regional chamber but we will continue to call on all levels of government to invest in the infrastructure and services needed in downtown Victoria.”