The 2022 VALO Adelaide 500 generated a record $51.85 million benefit to the South Australian economy, in a resounding endorsement of the race’s long-awaited return.
The economic benefit was a 34.3 per cent increase on the most recent event in 2020, which generated $38 million and also significantly higher than the previous all-time record of $45 million in 2019.
On key metrics, the 2022 event strongly outperformed the most recent previous race in 2020.
2020 | 2022 | +/- | |
Economic impact | $38.61 million | $51.85 million | +34.3% |
4-day attendance | 206,350 | 258,200 | +25.1% |
Jobs supported | 354 | 425 | +20.1% |
Media items | 8,076 | 14,775 | +82.9% |
PR value | $94 million | $162.8 million | +73.2% |
More than 12,000 people travelled to South Australia from interstate for the event, with an estimated 96,671 visitor nights in South Australia due to the event.
The Adelaide 500 was brought back by the Malinauskas Government after it was cancelled by the former government.
Preparations are now well underway for the 2023 VALO Adelaide 500, which will be held November 23-26 and headlined by international superstar Robbie Williams performing at the Sunday after-race concert.
Quotes
Attributable to Peter Malinauskas
The VALO Adelaide 500 was a resounding success on-track and now we know it was an incredible success off-track too.
Our tourism and hospitality businesses have done it hard over the past few years and these numbers reveal the return of a big event like the VALO Adelaide 500 gave local businesses a much-needed boost.
Pubs and restaurants were packed, hotel rooms were full and more than $50 million was returned to the South Australian economy.
I am incredibly proud we were able to deliver on our promise to bring back the VALO Adelaide 500 and make it bigger and better than ever.
Attributable to VALO Adelaide 500 chief executive Mark Warren
I am so proud of our team who worked so hard to bring back the VALO Adelaide 500 and deliver a memorable event.
We are already working hard to go one better in 2023 and deliver another outstanding event for South Australia, with global sensation Robbie Williams confirmed to headline the after-race concert.
The VALO Adelaide 500 showcases world-class motorsport, and we look forward to ushering in a new era in 2023 as we welcome Supercars Gen3 to the Adelaide Street Circuit.
