Victoria has emerged as the big winner from the Spring Racing Carnival with Minister for Racing Denis Napthine today revealing that the world-renowned event delivered more than $578 million for the state in 2011, an 8.4 per cent increase on the previous year. Figures released today by Dr Napthine and Racing Victoria (RV) show a significant increase in expenditure for retail, hospitality and accommodation, along with a boost to raceday attendances across the Spring Carnival period. "An econo

Victoria has emerged as the big winner from the Spring Racing Carnival with Minister for Racing Denis Napthine today revealing that the world-renowned event delivered more than $578 million for the state in 2011, an 8.4 per cent increase on the previous year.

Figures released today by Dr Napthine and Racing Victoria (RV) show a significant increase in expenditure for retail, hospitality and accommodation, along with a boost to raceday attendances across the Spring Carnival period.

"An economic impact study of the Spring Racing Carnival has once again proved this is one of Victoria's biggest sporting and entertainment events, and a major economic driver for the state," Dr Napthine said.

"It is fantastic to see attendances at Spring Racing Carnival events increase to 692,000 in 2011 compared with 664,000 in 2010.

"This massive increase has translated into a major boost for Victorian businesses, with racegoers splashing out and spending millions of dollars across a broad range of industries including spending almost $44 million on fashion items and $37 million on food and beverages," Dr Napthine said.

Other highlights from the economic impact study include:

- $32 million spent on accommodation by out-of-state visitors

- $9.43 million spent on personal grooming

- The sale of more than 70,000 hats or fascinators*

- The sale of nearly 60,000 pairs of shoes*

- $9.06 million spent on transport

(*only includes items purchased in Victoria for the purpose of wearing to the Spring Carnival)

Dr Napthine said the Spring Racing Carnival not only hosted some of the highest quality racing to be seen anywhere in the world, but also delivered a fantastic festival atmosphere in Melbourne and a range of regional cup events including Bendigo, Geelong and Ballarat.

"Last year 78,000 out-of-state visitors travelled to Victoria to attend a Spring Carnival meeting and spent $113.1 million while they were here," Dr Napthine said.

"This is a great way to simultaneously showcase our state and bring in massive amounts of tourism dollars."

RV Chief Executive, Rob Hines, said the Spring Racing Carnival was the envy of all states and the 2011 event had further enhanced its international profile.

"The Spring Racing Carnival is a world renowned event that is an iconic and pivotal component of Victoria's sporting, entertainment and cultural landscape," Hines said.

"The 2011 Economic Impact Study has again highlighted the significant contribution that the Spring Racing Carnival makes to the Victorian economy and its importance to many businesses and communities right across the state.