VICTORIA will consolidate its reputation as the 'home of big events' this year by hosting not only the Australian Grand Prix, but also inaugurating an annual flower show which aims to rival the world's most prestigious horticultural showcases.
The Grand Prix, formerly staged in Adelaide, is the jewel in Victoria's tourism crown.
The lakeside Albert Park circuit last witnessed a Formula I race in 1958. Tourism Victoria expects 35,000 international and inter-state visitors to attend the event from March 7 to 10.
'While they are here they will spend A$35 million (about HK$200 million) on accommodation, flights, shopping, food and transport,' a spokesman said.
'The flow-on effect is estimated to be worth more than A$80 million.' The event will be watched on television by more than 500 million people in at least 100 countries, giving Victoria media exposure reckoned to be worth A$100 million.
Tourism Victoria is working closely with the Grand Prix Corporation to cope with visitors.
