Victorian Government to review Melbourne major events strategy

With Australia's state capitals competing to capture major events, Victoria's major events program is to be reviewed for the first time in 20 years.

Self proclaimed and frequently acknowledged as 'Australia's events capital', the strategic review will be conducted by the chairman of the Victorian Major Events Company, Sir Rod Eddington and auditing firm KPMG.

With Melbourne hosting the Australian Open, the Formula One Grand Prix and the AFL grand final the city still remains home to some of the nation's major events, however, Victorian Premier Daniel Andrews said the State needed to stay on its toes.

Premier Andrews told Southern Cross Austereo radio "my fear is that we're coasting a little bit at the moment.

"We've got a really busy summer but if you look to the future, there's not quite the number of events that we need.

"New South Wales are going gangbusters.

"Since 2011, they've added 110 sporting, cultural and what they call 'lifestyle events' to their major events calendar."

Premier Andrews said major events were a big driver of Victoria's tourism industry, adding "the livelihood of 205,000 Victorians depend on tourism, and major events are a big part of that."

He also anticipated that the Victorian Government would have announcements on future major events before the end of April.

Major events are estimated to be worth $19 billion each year to the Victorian economy.