Major events provide economic boost

THE City of Greater Geelong has released a report highlighting the region’s most lucrative events over the past financial year.

The report showed 16 major events generated approximately $53.2 million worth of economic activity.

While COVID-19 has meant some events have been either postponed or cancelled, the Geelong Major Events Committee invested about $1.17 million in these events.

The Geelong Major Events (GME) Committee invested about $1.17 in the events.

Committee chair Cr Peter Murrihy said the return on this money showed it was a sound investment.

“The funding GME’s invested in sponsoring events during 2019-20 is no doubt money well spent, with an economic benefit of more than $53 million to the region. These events are a highlight during the year and something the community looks forward to.”

The 2020 Cadel Evans Great Ocean Road Race brought more money into the region than any other event. The city estimates it stimulated $11.2 million worth of economic activity.

The 2020 Festival of Sails was similarly successful, generating abound $10.3 million of economic activity.

The 2020 Geelong Tennis International and 2020 Head of the Schoolgirls Regatta were unable to be delivered in full due to the pandemic. Four further events were cancelled.

City of Greater Geelong mayor Stephanie Asher said GME would now focus on adapting to the new circumstances.

“The pandemic has thrown up many challenges, but the clever and creative work of GME will ensure the region remains a drawcard for major events despite an evolving landscape.”