Return of Adelaide 500 worth $51m to SA economy

The return of Adelaide’s great race paid off big, the state government says, as it reveals a 34 per cent increase in its economic impact.

The 2022 VALO Adelaide 500 generated more than $51m in economic benefit to the state economy — a 34 per cent increase on the last time the event was held.

In key metrics, released Thursday, the 2022 event outperformed the 2020 event across the board.

It attracted about 52,000 extra people across the weekend, supported an extra 71 jobs and generated $162.8m in publicity for the state — up from $94m in 2020.

The event was not held in 2021, after it was axed by the former Liberal government then revived as part of a Labor election commitment.

Premier Peter Malinauskas said the figures showed the event was a resounding success on and off the track.

Premier Peter Malinauskas speaks during the launch of the 2022 Valo Adelaide 500 last year. Picture: Daniel Kalisz/Getty Images

“Our tourism and hospitality businesses have done it hard over the past few years and these numbers reveal the return of a big even like the VALO Adelaide 500 gave local businesses a much-needed boost,” he said.

“Pubs and restaurants were packed, hotel rooms were full and more than $50m was returned to the South Australian economy.”

VALO Adelaide 500 chief executive Mark Warren said his team was focused on replicating the success of the 2022 event.

“We are already working hard to go one better in 2023 and deliver another outstanding event for South Australia, with global sensation Robbie Williams confirmed to headline the after-race concert,” he said.

“The VALO Adelaide 500 showcases world-class motorsport, and we look forward to ushering in a new era in 2023 as we welcome Supercars Gen3 to the Adelaide Street Circuit.”