Economic impact assessment for Victorian Government and Australian Grand Prix Corporation

Project description

The Formula One Australian Grand Prix has been a major feature on the Victorian major events calendar since 1996 and is one of Victoria’s most exciting sporting events. In 2025, the event attracted more than 465,000 spectators across the four-day race weekend.

The team has been engaged by the Department of Jobs, Skills, Industry and Regions and the Australian Grand Prix Corporation to undertake economic impact assessments of the F1AGP events on the State of Victoria for 2022-25.

Project scope

Our scope of work across the assessment of the F1AGP events has included:

• Working with a range of government and private stakeholders to collect, cleanse, review and analyse data. This included data from AGPC, Ticketmaster, intercept surveys, F1, volunteers and media.
• Building robust economic impact assessment models that have withstood scrutiny from the Department, AGPC and Victorian Treasury. The assessment includes segmentation of spectators (e.g. general admission, grandstand and corporate hospitality) and accredited persons (e.g. F1 support, media and volunteers) into groups based on their origin, spend and travel patterns, consideration of local attendees that would travel interstate if the event was held elsewhere and the impact of the event operations budget.
• Research into broader economic benefits such as digital engagement, attraction of additional major events to Victoria, increased participation in sport, increased trade and investment.
• Development of detailed reports outlining the results of the assessments, including the public release of results.

Project outcomes

Our sports and entertainment team demonstrated their proven economic impact assessment methodology to deliver comprehensive assessments of this major international sporting event. Our use of primary data, including the collection and analysis of intercept survey results, highlights our ability to collect and analyse data from those who attend the event and provide economic impact to Victoria.