Spring Racing Carnival delivers highest benefit in ten years

The economic results for the 2024 Spring Racing Carnival have been released by Racing Victoria, highlighting three months of major race meetings across Melbourne and wider Victoria.

A gross economic benefit of $785.1 million was recorded, the highest outcome seen in the past ten years.

Attendance figures for 2024 nearly hit 600,000, representing a 4% increase compared to 2023, and a 17% rise from 2022—the first year the carnival returned to full capacity after COVID-era restrictions.

Tourist engagement was high, with 320,000 hotel nights logged by interstate and international visitors who travelled for Spring Carnival events.

The Melbourne Cup Carnival experienced a notable 9% boost in crowd numbers, with 45% of general admission tickets purchased by individuals aged under 35—a demographic surge echoed in Sydney by the Australian Turf Club during their spring fixtures.

“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.