Was the Grand Prix, promoted as 'The Great Race' which was
held at Albert Park beneficial for Melbourne, or was it just
a huge waste of taxpayers money? The race was televised to
650 million people in 130 different countries is expected to
pump $50 million into the Victorian economy every year and
boost tourism enormously.
I along with the owners of seventy-two percent of hotels, motels,
restaurants and other entertainment complexes agree that
Albert Park having the Grand Prix will have a positive impact
on business. Infact it pumped $10 - $15 million into local
business. This will mean these businesses did put on more
part time staff who will be gaining valuable work experience
and there will also be a flow on effect to suppliers of these
industries. Fifty-nine percent of interstate visitors and
forty five percent of overseas visitors would not have come
to Adelaide in a two year period because of the Grand Prix if
not for the race.
By Albert Park getting the Grand Prix
created between 1000-1500 new jobs. The Grand Prix will
promote Victoria on an international scale with international
press, television and media caring out a world wide coverage
of this event. This could convince people to come and visit
Melbourne and would also be a major tourism boost.
Approximately $23.8 million has been spent overhauling the
park and upgrading the Lake side track. They built better
fences and barricades to help protect spectators in case of a
crash, and the track is said to be the safest and finest in
the world, creating a benchmark for Albert Park. Temporary
seating will cater for 150,000 people, and there was
approximately an attendance of 400,000 over the four days.
9,000 part-time jobs and 1,000 full-time jobs were created