Major events brought Victoria $2.5 billion into state’s economy
With the Presidents Cup kicking off in Melbourne next week, the true financial benefits of hosting major events has been revealed. See how much money these international events bring Victoria.
VIC News
Don't miss out on the headlines from VIC News. Followed categories will be added to My News.
Victoria’s sports and major event dominance has pumped a record $2.5 billion into the state economy in the last year as the world best golfers prepare to take over Melbourne.
Tiger Woods and golf stars from around the globe will shine a light on Melbourne as the Presidents Cup is this week staged in Victoria for the third time in 25 years.
This month’s Presidents Cup alone is expected to pour about $50 million into state finances.
It comes as the Sunday Herald Sun reveals a new independent study has found the annual value of major events to the Victorian economy has soared to an unprecedented $2.53 billion.
The Ernst and Young “Eventful Year” 2018 report confirmed Victoria’s world-leading events calendar attracted almost 6.9 million international and interstate visitors to Victoria, up 24 per cent in two years.
Direct jobs supported by major events such as the Australian Open tennis, AFL Grand Final and F1 Grand Prix grew by 10 per cent, to 3,350.
Tourism, Sports and Major Events Minister Martin Pakula said the report revealed major events had added an extra $700 million since the end of 2014.
“Victoria does events better than anywhere else in the world, securing the biggest and the best attractions to ensure we continue to draw large numbers of interstate and international visitors to the state,’’ he said.
“From the Presidents Cup to Harry Potter and the Cursed Child, our calendar has something for everyone.”
The report found 98 per cent of people agreed or strongly agreed major events put Melbourne on the map internationally.
And 88 per cent agreed or strongly agreed major events did for Melbourne what the Eiffel Tower does for Paris.
With more than 110,000 tickets already sold to the Presidents Cup and about 120,000 people expected to attend the four day event from Thursday, Melbourne hotels, bars and restaurants will be packed.
It is expected Sunday’s final round will sell out.
Presidents Cup executive director Matt Kamienski said people from around the world would pack Royal Melbourne, with more than 52 per cent of ticket sales to interstate or overseas visitors.
“It’s great for Melbourne and it’s great for Victoria because most of these people are not just coming for the Presidents Cup,’’ he said.
“They are coming to do other things in Victoria and to see other things in the city which will have a flow on effect.’’
The Presidents Cup kickstarts a major events procession in Victoria, including men’s and women’s ICC T20 World Cup finals at the MCG and a Bledisloe Cup clash at Marvel Stadium in 2020.
The Australian Open men’s golf will be played at Kingston Heath in 2020 and Victoria Golf Club 2022, bringing the flagship event back to Melbourne’s famed Sandbelt for the first time since 2005.
Melbourne has also secured the Australian premiere season of Moulin Rouge The Musical for 2021 and the NRL State of Origin between NSW and Queensland will return to the MCG.
“These blockbusters inject millions of dollars into the Victorian economy, create thousands of jobs and keep our hotels, bars and restaurants full,’’ Mr Pakula said.
MORE NEWS:
MCG DECK ‘TOO DANGEROUS’ TO PLAY ON
BOLTON REVEALS HIS BLUES COACHING REGRETS
BOMBERS WON’T SUPPORT SENATE INQUIRY OVER ESSENDON 34
Australian Hoteliers Association Victoria chief executive Paddy O’Sullivan said the state’s hospitality industry was this week set for a hole in one.
“We will see a terrific influx of visitors who need a place to eat, sleep, socialise and see what Melbourne has to offer,’’ he said.
“Whether it’s the top end of town or those enjoying a sports tour in general admission, it’s a boon time for tourism in Melbourne.
“The pubs will be chockablock.’’