Boon for tourism: Melbourne to keep Australian Grand Prix
The Victorian Government has signed a deal to keep F1 in Melbourne until 2020 despite rumours that it might be scrapped or moved elsewhere.
Last year’s race cost Victorian taxpayers $50 million and the event has been held at Albert Park since 1996, when it moved from Adelaide.
The Victorian Government hasn’t revealed the cost of the contract but the Tourism & Transport Forum says it’s a boon for Australian tourism, with the race bringing in between $70 and $80 million in total economic benefits for Victoria.
“The Formula 1 Grand Prix gives people a reason to travel, with many guests extending their stay and participating in other activities as well,” TTF Acting Chief Executive Officer Trent Zimmerman said.
“The Grand Prix is an iconic event for the city and each year attracts tens of thousands of additional visitors from interstate and overseas.
“These visitors stay in hotels, eat in restaurants, go shopping, visit attractions and spend money on a range of other goods and services.
“Many will take additional trips to regional destinations around the state, helping to support the jobs of 200,000 people who work in tourism across Victoria.”
Do you agree with the TTF? Is the Grand Prix ultimately a good thing for Melbourne and Victoria? Or is it a drag on taxpayers?
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