Victorian Government spotlights the value of its major events 

The Victorian Government is spotlighting the value to Victorians of investing in creative festivals and major events and highlights major events are helping to drive the state’s sustained economic recovery with Victoria’s visitor economy worth $31.5 billion – back to 97% of pre-pandemic levels.

Referencing independent research (although not advising of its source, ed.), the Victorian Government flags the economic contribution of specific events.

The 2023 Melbourne International Comedy Festival is on track to see ticket sales surpass the previous record box office of $19.7 million set in 2019.

Figures also reveal that the return of the Melbourne Fringe Festival last October generated $22.9 million for the state, with attendees spending big in restaurants, bars, retailers and hotels.

Blockbuster results include the ICC Men’s T20 World Cup which pumped more than $210 million into the economy and created almost 1,000 jobs. More than 327,000 Victorians and interstate and international visitors attended 13 matches, delivering 226,000 room nights last October and November.

The Australian Formula 1 Grand Prix set a new crowd record of more than 444,000 just three weeks ago. An economic impact study conducted by consultants EY on the 2022 event found the Grand Prix had an economic impact of $171 million and generated more than 730 jobs.

The 2022 Melbourne Winter Masterpieces exhibition at NGV The Picasso Century delivered financially as well as culturally with the highest economic impact in the history of the series, with $91 million generated for the state.

Across regional Victoria, hugely successful events include Kings of Leon playing in Mildura, the Elvis: Direct from Graceland exhibition in Bendigo, the Bells Beach Rip Curl Pro and Cadel Evans Great Ocean Road Race.

Currently, ACMI has the world-premiere exhibition Goddess: Power Glamour, Rebellion and Melbourne's famous theatres are booming with hit productions such as & Juliet and Harry Potter and the Cursed Child.

In the months ahead, the Melbourne Winter Masterpieces exhibition Pierre Bonnard will open at the NGV, RISING will see artists take over the city and the Matildas will take on France at Marvel Stadium.

Victorian Minister for Creative Industries and Tourism, Sport and Major Events Steve Dimopoulos advises “these figures confirm Melbourne is Australia’s creative capital and the home of major events, driving business activity and supporting thousands of jobs.

“Investing in our festivals and big events attracts visitors in large numbers and our cafes, bars and hotels are buzzing.”

Image. The 2023 Melbourne International Comedy Festival