Research reveals that more 18-29 year-olds attended the Melbourne Cup Carnival in 2023 than in 2022 and they now account for greater than 20% of total attendances, with more than a third of first-time attendees coming from this age group. TAB Champions Stakes Day saw the largest portion attendances by racegoers aged under 30 at nearly 30 per cent.
The Lexus Melbourne Cup has a reach unrivalled by any other Australian horse race, having been broadcast to around 209 countries with a global audience reach of approximately 750 million in 2023.
Victoria Racing Club Chairman Neil Wilson said the 2023 Melbourne Cup Carnival had been a spectacular success for Melbourne and once again underlined its economic importance to the city, the state and the country.
“Not only did we see more people come through the gates of Flemington to celebrate world class racing and experience the next edition of Australia’s first major event including the best in fashion, entertainment and culinary experiences, but we also saw a record economic return of $468.3 million to the state of Victoria,” Mr Wilson said.
“The celebration across the nation on the first Tuesday of November results in a huge economic uplift directly attributable to Lexus Melbourne Cup Day.
“From pubs and clubs to fine-dining restaurants, independent designers to department stores, primary producers to wine makers, so many industries have benefited from four days of exceptional racing at Flemington, and we’re delighted to support this state and the nation.
“The Melbourne Cup Carnival also makes a valuable contribution to the local community and the VRC was proud to use our platform in 2023 to raise $698,000 for various charities and support more than 16,000 jobs.
“The VRC funds the Melbourne Cup Carnival at a cost of approximately $65 million and could not host the world-class event without the support of its partners, the Victorian Racing Industry and the Victorian State Government.”