The economic impact of the 2011 Formula 1 ... - Tourism Victoria

Table 26: Average amount expended per CAMS official and other accredited person for visit to Victoria for the
Grand Prix
Item
Average interstate CAMS official/other
accredited person expenditure
Average overseas CAMS official/other
accredited person expenditure
Accomm,
Cafés,
Restaurants
Transport Retail Total
$706 $99 $75 $880
$824 $329 $118 $1,271
Source: Ernst & Young designed internet based survey on the responses of 87 interstate and 11 overseas CAMS
officials.
Based on the nights stay information provided in section 4.4.5, the average daily
expenditure of CAMS officials and other accredited persons visiting Victoria for the Grand
Prix is illustrated in Table 27:
Table 27: Average daily expenditure per CAMS official and other accredited person for visit to Victoria for the
Grand Prix
Item
Average daily interstate CAMS
official/other accredited person
expenditure
Average daily overseas CAMS
official/other accredited person
expenditure
Accomm,
Cafés,
Restaurants
Transport Retail Total
$112 $16 $12 $140
$86 $34 $12 $131
Source: Refer nights stay information for CAMS officials and other accredited persons for the Grand Prix in section
4.4.5 and average per trip expenditure data in Table 26.
The above tables indicate that CAMS officials and other accredited persons visiting Victoria
for the Grand Prix, for the greater part, have a lower daily spend than interstate and
overseas spectators. This is attributed to these visitors often spending lower amounts
given the group surveyed (being CAMS officials) are mostly, if not always, volunteers.
4.4.7 Retained CAMS officials and other accredited persons
expenditures
For Victorian CAMS officials and other accredited persons, their expenditures are not
necessarily incremental as in the absence of the Grand Prix they might spend similar
amounts on other local events and activities. That is, there merely is a substitution effect.
Local expenditures would give rise to an incremental impact to the State if in the absence of
the Grand Prix, locals spend this money on a Grand Prix staged in another state or country
replacing the Grand Prix staged in Victoria.
Without primary research from Victorian CAMS officials attending the Grand Prix regarding
their intentions if the event was relocated interstate or overseas, Ernst & Young has made
an assumption that 100% of Victorian CAMS officials’ expenditures are currently ‘retained’
in Victoria relative to a scenario where the Grand Prix is staged in another state. Nil
expenditure is assumed to be ‘retained’ with the scenario where the F1 Grand Prix is staged
in another country. This assumption is based on the proviso that CAMS officials will act as
stewards for all significant motor racing events staged in Australia (with the bulk of the
population based in Victoria along with CAMS’ head office).
In relation to other accredited persons, Ernst & Young has made an assumption that 5% of
Victorian other accredited persons’ expenditures are currently ‘retained’ in Victoria relative
to a scenario where the Grand Prix is staged in another state. As for CAMS officials, it is
assumed that no expenditure is ‘retained’ with the scenario where the F1 Grand Prix is
staged in another country. The much lower assumption in relation to the interstate scenario
Tourism Victoria
The economic impact of the 2011 Formula 1 Australian Grand Prix Ernst & Young ÷ 33