Victoria’s events calendar drives record spend

Major events helped drive record tourism spend in Victoria.

Victoria’s calendar of major events injected a record $39.3 billion into the state’s economy during the year ending March 2024.

Minister for Tourism, Sport and Major Events Steve Dimopoulos said Victoria’s visitor economy grew by $1.5 billion in the last quarter, according to data from the National and International Visitor Survey.

The growth was bolstered by Victoria’s international visitors who spent $7.8 billion over the 12-month period, an 86 per cent increase year-on-year.

This year’s line-up of major events attracted visitors from interstate and overseas to Victoria, with record-breaking crowds at both the Australian Open and Formula 1 Australian Grand Prix and Taylor Swift fans flocking to the MCG.

Melbourne also maintained its crown as the number one city for interstate overnight trips in Australia, welcoming 3.9 million visitors who spent $5.1 billion over the 12-month period.

While tourism spending in Melbourne has increased by 38 per cent over the past five years, spending also increased in regional Victoria by 57 per cent.

Visitors to Geelong and the Bellarine have increased by 93 per cent compared to 2019 levels while Philip Island experienced an increase of 91 per cent and Yarra Valley and Dandenong Ranges boosted by 82 per cent.

“These record numbers are a testament to our outstanding tourism, hospitality and events workforce and the work they put in day in, day out to ensure our state is the go-to destination for travelers from all over the world,” said Dimopoulos.

“We continue backing our booming tourism industry so it can keep growing and thriving – supporting thousands of jobs and businesses across Victoria.”

Visit Victoria CEO Brendan McClements said Victoria’s visitor economy is forecast to reach $53 billion in 2028.

“Today’s data highlights how Victoria’s tourism sector has embraced the incredible opportunity that forecast represents, and is hard at work capitalising on it,” McClements said.