Major events in Geelong pull in $64.6 million

GEELONG’S calendar of major events injected an estimated $64.6 million into the region’s economy during the 2017-18 financial year.

The City of Greater Geelong’s Geelong Major Events committee provided $1,402,842 in funding to 24 events during the 12-month period, producing a return for the community of about $46 for every dollar invested.

The 24 events attracted an estimated 500,000 participants and spectators, who together spent enough to support up to 517 full-time jobs in Greater Geelong.

The figures show the 2018 Festival of Sails and Cadel Evans Road Race were the two biggest events, with each generating $10 million or more in economic benefit.

The Cadel Evans Road Race attracted 80,000 spectators, and the Festival of Sails almost 54,000.

Other major contributors to the overall result were the 2017 Archibald Prize at the Geelong Gallery (58,000 attendees and $7.2 million economic benefit), the 2017 Geelong Revival Festival (26,400 attendees and just under $6 million economic benefit) and Pako Festa (more than 104,000 attendees and $5 million economic benefit).

In 2016-17, Geelong Major Events generated an estimated $76.1 million. However, that figure includes the 2017 Australian International Airshow, which produced a $22 million benefit on its own and did not feature in 2018.

Alongside the economic boost, the events also provide social benefits for the local community through participation and spectator opportunities, with 70 per cent offering some free public access.

“These figures are a tremendous result and show the huge contribution Geelong Major Events make to our region’s economy and community,” the city’s director of investment and attraction Brett Luxford said.

“Events such as the Cadel Evans Road Race and Vic Open also attract national and international coverage for our region, which produces further knock-on benefits for tourism.

“Importantly, there is something for everyone amongst the events we support – with arts and culture, food and beverage, and sport all featuring. There is entertainment for all ages, and because such a high number of events are free, they’re available to everyone.

“There’s no doubt our busy major events calendar is part of what makes our region such a great place to visit and live in.”