Published underIndustry News
June marks the launch of the 16th annual Melbourne Cup Tour that will see the prestigious Cup visit towns across Australia and the globe.
The tour will conclude in Melbourne on Saturday, 3 November, ahead of the 158th running of the Melbourne Cup on Tuesday, 6 November.
The racing industry in metropolitan Melbourne generates more than $1.5 billion for the Victorian economy annually and helps to sustain more than 13,950 full-time equivalent jobs locally. This makes it the largest economic generator of any sporting event in Australia.
The tour – called the ‘Loving Cup’ tour – will include Shepparton, Nagambie, Skipton, Wodonga, Portland, Camperdown, Stawell, Wangaratta and Goornong in Victoria.
The 2018 Melbourne Cup is made of 18-carat gold and worth more than $200,000.
Over the past 16 years, the Cup has travelled more than half a million kilometres, visiting around 400 cities and towns, and iconic Australian tourism sites.
In 2017, Melbourne Cup Carnival delivered a gross economic benefit of more than $444.5 million to the Victorian economy, an increase of $17.5 million from 2016.
More than $40 million was spent on commercial accommodation, with $57 million spent on fashion and retail shopping.
The carnival provides employment for around 20,000 staff and contractors working for more than 900 companies at Flemington in the lead-up to and during the events.
Since 2014, the Labor Government has provided almost $13.37 million for 13 infrastructure projects and four race day events at Flemington Racecourse from its Victorian Racing Industry Fund – including the new $135 million grandstand, which will open for this year’s carnival.
For the first time, the Cup will also travel to the United Kingdom and Ireland to celebrate 25 years since Irish thoroughbred Vintage Crop became the first northern hemisphere-trained horse to win the Melbourne Cup.