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

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5.3 Retained Victorian expenditures Retained expenditures refer to the amount of money that stays in the state due to the event. That is, in the absence of the event, Victorians might have spent this money in another or country. As discussed, the Assessment considers two possible scenarios: ► ► The event is not held in Victoria but held in another state; or The event is not held in Victoria but held in another country. As in the absence of the event, this money could be lost to the state. Ernst & Young’s methodology for the Assessment has considered the impact on spending of Victorians attending the 2011 Grand Prix (and particular Victorian organisations involved with the event) under the two scenarios listed above. Refer to Table 41 (Scenario 1 – Grand Prix elsewhere in Australia) and Table 42 (Scenario 2 – Grand Prix in another country) for the retained expenditure pertaining to the Grand Prix under the two designated scenarios. Tourism Victoria The economic impact of the 2011 Formula 1 Australian Grand Prix Ernst & Young ÷ 47
Table 41: Retained expenditure: applicable Victorian attendees, teams, related organisations and corporate buyers (Scenario 1 – Grand Prix elsewhere in Australia) Retained Victorian expenditure Number of applicable people, teams, organisations or corporate buyers Total per capita / per organisation expenditure accommodation café restaurant Total per capita / per organisation expenditure transport Total per capita / per organisation expenditure retail Total expenditure accommodation café restaurant (000)* Total expenditure transport* (000) Total expenditure retail (000)* Total retained expenditure Melbourne resident spectators 25,914 $65 $12 $35 $1,684 $315 $907 $2,906 Someone else in Victoria resident spectators 5,285 $218 $46 $92 $1,153 $241 $486 $1,880 Media 20 $582 $88 $141 $12 $2 $3 $17 CAMS officials 533 $706 $99 $75 $376 $53 $40 $469 Officials and suppliers 490 $706 $99 $75 $346 $49 $37 $432 V8 participants 90 $308 $0 $0 $28 $28 Support event participants 258 $706 $99 $75 $182 $26 $19 $227 V8 Supercars teams 7 $12,482 $1,548 $7,010 $87 $11 $49 $147 Other support event teams 62 $2,428 $500 $2,763 $151 $31 $171 $353 Corporate buyers (minor) 112 $3,053 $340 $811 $342 $38 $91 $471 Corporate buyers (major) 3 $214,333 $11,333 $37,333 $643 $34 $112 $789 Total retained expenditure - Victoria $4,976 $800 $1,943 $7,719 *: Results may not equate due to rounding (000)* Tourism Victoria The economic impact of the 2011 Formula 1 Australian Grand Prix Ernst & Young ÷ 48
Page 1 and 2: The economic impact of the 2011 For
Page 3 and 4: Contents 1. Executive summary .....
Page 5 and 6: 10% confidence interval 1 . For the
Page 7 and 8: Victorian attendees retained in the
Page 9 and 10: 2. Introduction 2.1 Overview The 20
Page 11 and 12: 3. Methodology 3.1 Conceptual frame
Page 13 and 14: 3.1.2 Wider impacts Direct economic
Page 15 and 16: Table 6: Identification of represen
Page 17 and 18: Impact on the total events schedule
Page 19 and 20: 4. Key inputs to determine direct e
Page 21 and 22: The number of unique attendees enab
Page 23 and 24: All spectators As noted in section
Page 25 and 26: 4.2.5 Summary of specific and exten
Page 27 and 28: Figure 7: Percentage of spectators
Page 29 and 30: Melbourne and somewhere else in Vic
Page 31 and 32: That is, of 498 media that attended
Page 33 and 34: 4.3.7.2 Expenditure The market rese
Page 35 and 36: 4.4.3 Reason of the visit For the p
Page 37 and 38: is based upon the host state sourci
Page 39 and 40: 4.5.3 Reason of the visit For the p
Page 41 and 42: Table 33: Average expenditure per r
Page 43 and 44: 4.6.3 Retained corporate expenditur
Page 45 and 46: ► No Victorian V8 Supercars and s
Page 47 and 48: Victorian revenues relating to spon
Page 49: Table 40: Direct impacts: interstat
Page 53 and 54: 5.4 AGPC Operations The direct impa
Page 55 and 56: 6. Wider economic impacts using the
Page 57 and 58: It is assumed that investment in ea
Page 59 and 60: Sectoral results Figure 11 represen
Page 61 and 62: 7.2 Likelihood of visiting again/ r
Page 63 and 64: 7.4 Retained expenditure Victorian
Page 65 and 66: 8. Disclaimer This report was prepa
Page 67 and 68: Table 49: (Victoria): Industry outp
Page 69 and 70: Table 51: (Victoria): Industry real

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