Events supported by the Geelong Major Events Committee injected an estimated $99.3 million into the local economy during the 2018-19 financial year, figures to be presented to council show.
The record figure came courtesy of a combined 850,000 participant and spectator attendances across the 25 events, and represents a return on the council's sponsorship investment of 53 to 1.
The biennial Australian International Airshow at Avalon Airport made the largest impact on the overall result, generating an estimated $28.9 million in economic benefit on its own.
Next came the Cadel Evans Great Ocean Road Race ($11 million), Festival of Sails ($10.6 million) and Archibald Prize exhibition at the Geelong Gallery ($8.03 million).
The total was also boosted by the success of the inaugural White Night Geelong, which produced an economic benefit of $5.1 million, and will return to the city in 2021.
A full list of GME-supported events, including sponsorship value and estimated economic benefit, is available within the agenda for the Tuesday 8 October council meeting.
The council meeting will be held at the Ocean Grove Surf Life Saving Club, and the community is welcome to attend.
Mayor Bruce Harwood:
Greater Geelong now has an incredibly dynamic and varied calendar of events that receive support from the council via Geelong Major Events sponsorship. These are a significant driver of tourism and support local business in a big way. They also bring national and international exposure to our region through TV and media coverage.The $99.3 million economic contribution figure is a very positive result and we look forward to discussing the report during our council meeting in Ocean Grove on Tuesday night.
Deputy Mayor Peter Murrihy, Chair, Geelong Major Events Committee:
The Geelong Major Events Committee is proud to be presenting these exceptional results to the council. They show the remarkable economic value our pursuit and support of major events brings to the region.Major events are also great for our local community, offering family friendly entertainment and participation opportunities. Fourteen of the events provided some level of free public access, meaning they're accessible to everyone.
A big thanks to all committee members for their work during this 12-month period.
Councillor Ron Nelson, Chair, Tourism and Events portfolio:
Geelong was pleased to host several outstanding major events during the 2018-19 financial year, topped by a spectacular and very successful Australian International Airshow.Our hotels, restaurants, bars, cafes and retailers all get huge benefit every time one of these events comes to town.
There was something for everyone in the calendar of events, providing 25 more reasons why Geelong is the place to live or visit.
