Victoria’s Spring Racing Carnival has boosted the state’s economy by more than $578 million, with attendance at events back on the rise after a five-year decline.
More than 691,000 people attended the races during the 2011 carnival, according to a Racing Victoria study, released on Tuesday.
The figure is an increase over the previous year and breaks a continuing decline in attendance from a peak of about 774,000 racegoers in 2006.
“It is fantastic to see attendances at Spring Racing Carnival events increase,” Victorian Racing Minister Denis Napthine said in a statement.
Caulfield and Moonee Valley saw the biggest increases in attendance, especially when Black Caviar made an appearance during her undefeated winning streak.
Flemington and Country Racing, however, both experienced decreases in attendance.
The annual economic impact study, commissioned by Racing Victoria Limited and prepared by business consultancy IER, also found the carnival translated into a $578.6 million pay cheque for the state’s economy.
Interstate and overseas visitors spent more than $30 million on hotels and accommodation during their stay for the races.
Overall, racegoers bought more than 70,000 hats or fascinators, 60,000 pairs of shoes, and spent big on wagering and entertainment.
The $578 million economic impact is an 8.4 per cent increase from 2010, but is not totally unexpected since the 2011 carnival ran for 15 additional days over the previous year.
Racing Victoria CEO Rob Hines said the success of the 2011 carnival has continued to enhance its global profile.
“The Spring Racing Carnival is a world-renowned event that is an iconic and pivotal component of Victoria’s sporting, entertainment and cultural landscape,” Mr Hines said in a statement.
