Despite attracting 305,000 fans, revenues at the event fell by 30% and costs increased by 20% further illustrating the difficult economic environment in which events are currently operating.
According to the Grand Prix organisers the “global financial crisis continued to have a significant impact on revenue for the 2010 event”. However the major events minister (interesting concept) has said that “The economic value of this event to Melbourne is in the order of $62 million, and was seen by 12.8million people in Europe”.
One wonders if this is regarded as a good Return on Investment.