The 2016 Wodonga Gold Cup proved to be a huge success, attracting crowds of more than 7000 people and pumping more than $2 million into the local economy.
New figures revealed that last year’s race meeting attracted more than 1500 day visitors, and another 1000 overnight visitors who filled more than 2200 beds in Wodonga.
The total direct economic impact was $2.04 million, with overseas and interstate visitors contributing almost $900,000.
More than 20 per cent of racegoers were from interstate and another 22 per cent were from around Victoria.
The Andrews Labor Government contributed more than $17,000 to support the 2016 event. The Wodonga & District Turf Club also provided more than $17,000 and Country Racing Victoria contributed $2500.
Over the past two years, the Labor Government has provided almost $230,000 to support the Wodonga & District Turf Club through the Raceday Attraction Program and Victorian Racing Industry Fund.
The Cup was moved from a Sunday to a Friday in 2014, with the Wodonga City Council declaring a public holiday for the event in lieu of the Melbourne Cup public holiday. Since the change, cup attendance has climbed steadily.
More than 2500 visitors travelled to Wodonga specifically for the event and almost 4000 locals attended.
More than 30 per cent of racegoers said they would not attend the Cup if it was not a public holiday.
Racing Wodonga engaged IER, a Melbourne-based business management consultancy, to conduct the economic impact statement.
The racing industry in the Ovens-Murray region generates more than $39 million for the Victorian economy and helps sustain more than 380 full-time equivalent jobs locally.
Quotes attributable to Minister for Racing Martin Pakula
“The Wodonga Gold Cup delivers huge economic benefits to the community, creates jobs and brings thousands of people to Wodonga every year.”
“This event is a highlight on the country racing calendar. The public holiday means that thousands more locals can attend and enjoy a day out at the races with friends and family.”
Quotes attributable to Racing Wodonga CEO Tom O’Connor
“The club is grateful for the support from the Victorian Government, which will allow us to further document the economic benefits the Wodonga Gold Cup meeting brings to the region.”
“The cup meeting is popular with the local community and is a major tourist drawcard. We would also like to thank the council for their ongoing support and for agreeing to retain Cup day as a public holiday.”
Reviewed 19 August 2020