Racing Victoria has published the findings from its economic analysis of the 2024 Spring Racing Carnival, covering three months of key racing events held throughout Melbourne and regional Victoria.

The gross economic benefit generated by the carnival reached $785.1 million, setting a new high for the past decade.

Total attendance came close to 600,000, with 2024 figures showing a 4% increase from 2023 and a 17% jump from 2022—the first unrestricted Spring Carnival following the pandemic.

Tourism also saw a significant boost, with international and interstate visitors contributing to 320,000 hotel nights linked directly to Spring Carnival participation.

The Melbourne Cup Carnival reported a 9% increase in attendance, and 45% of general admission tickets were bought by people under 35, a trend also noticed at major Sydney race days hosted by the Australian Turf Club.

“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.