Racing Victoria has released the economic benefit results for the 2024 Spring Racing Carnival taking in three months of features days in Melbourne and across the state.
Gross economic benefit calculated at $785.1 million is recognised as the highest recorded over the past decade.
Attendances fell just short of the 600,000 mark with the 2024 patronage 4% higher than 2023 figures and 17% higher than the 2022 carnival – the first post-COVID carnival unaffected by crowd restrictions.
320,000 nights of hotel accommodation by international and interstate visitors was also attributed to Spring Carnival attendance and participation.
The Melbourne Cup Carnival achieved a 9% increase in attendance with 45% of general admission sales by people aged under 35 in a similar trend noted by the Australian Turf Club across Sydney’s spring feature days.
“This economic study reinforces that Victoria’s Spring Racing Carnival is one of Australia’s largest major events attracting interstate and overseas visitors who invest in our state,” Racing Victoria CEO Aaron Morrison said.
“We will always back the racing industry which generates more than $4.7 billion for the Victorian economy and helps sustain nearly 35,000 full-time equivalent jobs,” Victorian Racing Minister Anthony Carbines added.