Why should the loss of one event affect the whole of the state in so many ways? Because, as Jeff Kennett aptly put it last year when the debate about the value of the Grand Prix reared its head once more, our events industry is like a train on a bridge. Every pillar that supports the track is central to its ongoing welfare and our ability to keep all our other events, and the supporting businesses, moving along in a successful fashion.

Victoria’s major events galvanise business interests in a range of industries on a cyclic basis. If we are to devalue this lone event to a state where we no longer want it, or worse, to a state where Formula One simply takes it away, the catastrophic effect for Victoria will be far-reaching.

The Victorian Government commissioned Ernst & Young to conduct a study of the economic impact of the Grand Prix following the 2011 event. The study estimated that the 2011 event increased Victoria’s Gross State Product (GSP) by between $32.04 million and $39.34 million.

The Grand Prix also provides significant promotional opportunities for Melbourne and Victoria nationally and internationally. The 2009 event alone provided a media or advertising equivalent value of $35.6 million to the state.

The Grand Prix is a pillar in our overall events calendar, which includes the Australian Open, Spring Racing Carnival and Melbourne Food & Wine Festival among many, many more great events. The whole of this calendar is greater than the sum of the parts.

Victoria’s major events deliver a combined economic impact to the state of approximately $1.4 billion annually and attract more than 230,000 international visitors every year.

Collectively, these events work together to promote Melbourne and Victoria to the world and drive significant economic, social and cultural benefits to the state.

No other location in Australia can stage a mix of international and local sporting events at world-class venues that are in walking distance of the central city precinct, other tourist attractions and a range of first-rate hotels, restaurants and shopping outlets.

This story is not a new one but it needs to be reinforced. I ask the Government and the local community again to consider the bigger picture of the value of the Grand Prix, and just how Victorian businesses that depend on the event’s success can continue to prosper without it.

More at http://blog.vecci.org.au/2012/03/16/the-whole-of-victorias-events-calendar-is-much-greater-than-the-sum-of-the-parts/

If only the same were true of the $2bn DESAL Plant and $500m North South Pipeline.

Where were the objections when the DESAL plant was being tendered? (More than $2bn of wasted public money). Why is the $500m North-South Pipeline built from the Goulburn river across the Dividing Range now completely empty of water and will probably rust out before it is ever used? Why has the Melbourne rail system been unchanged (with the exception of the 13kms of track in the underground) for more than 60 years? Where is the new rolling stock for the train system that was supposedly ordered several years ago? (I think the word is spelt “Cancelled”). Why do we still have more than 200 rail level crossings causing countless hours of traffic holdups? So how does $50m per year look now?

I live close to the start-finish line of the GP and I have no real objection to it other than the profiteering by Bernie Ecclestone. There are many “advantages” to our “community” from this event other than promotion of hoon driving etc. I have lived in Melbourne my entire life but never been to the Melbourne Cup. Why? I have no interest in horse racing. But I don’t object to the “cost” because I know there are many other benefits from this annual event.

Of course I forgot to mention the Myki “deal” which has cost every Victorian taxpayer far more than the GP will ever cost. Add to this the fact that somewhere between 60~80% of tram travellers never buy a ticket I wonder how many hundreds of millions could be “saved” if we had a “community” with a real conscience. I travel on trams quite a bit and am disgusted when my seat is taken by non paying passengers. Yarra Trams argues that the figure is “less than 25% of non paying customers. By my expereince and notations it is at least 3 times that amount. I haven’t seen a ticket inspector since 2010 so who is Auditting these figures? When I have spoken to Yarra Trams people (drivers etc) they whoeheartedly agree with my assessment. Having paid through the nose for Myki I don’t see any financial benefit to the State with the current setup of ticketting/collection. So far as the GP is concerned what I am trying to say is that focussing on the cost is meaningless. Albert Park is now a collection of updated and well maintained facilities due at least in part to the GP being held there. As to people who claim the Pit building is a “waste of money”, perhaps they should visit it on almost any evening right through the year and check how much it is used for Netball and so on.

I disagree – the environmental effects, and poor financial returns, outweigh the support to secondary Melbourne businesses. If the car race departs, we are still left with the horse race, after all.

The symbolism of having a grand prix has diminished over the years. In my youth, such things were sexy and exciting. These days, they are dinosaurs – part of the last gasp of the carbon age. Good riddance.

Best wishes
Miro

Why? Well there is only a very limited number of people whom can sustain “tighten you belts” and then watch extremely well paid few flaunt and waste it right in front of our eyes.

We want our park back and these noisy dinosaurs put to rest.