This year’s Superloop Adelaide 500 had a record economic impact of $45.9 million on the South Australian economy, according to independent analysis.
A report from Economic Research Consultants found that the economic impact was not only up on last year’s figure of $41.9 million, but that visitor nights also hit a record, growing from 81,052 in 2018 to 90,001 in 2019.
Acting Minister for Trade, Tourism and Investment, Tim Whetstone, said that the Adelaide 500 is an important event for the state.
“We know this event is a significant economic driver for South Australia, attracting more than 250,000 visitors each year, 15,000 from interstate, who provide enormous flow-on benefit for the city’s hotels, bars, restaurants and local retailers,” he stated.
“Regional tourism operators also experience an uplift as visitors stay longer and experience all the wonders our state has to offer.
“Since its inception, the race has injected more than $600 million into our state’s economy and created hundreds of jobs. The race is getting bigger and better each year, and we look forward to putting on another impressive event in 2020.”
Superloop Adelaide 500 General Manager Alistair MacDonald added: “This year, we hosted the new ‘Tracks of the World’ precinct, which was a hit with both motorsport fans and families alike and showcased approximately $35 million worth of sports cars from around the world.
“In addition, the 2019 event also brought the Moto X Step-Up competition to Australia for the first time, with seven-time X Games gold medallist Jarryd McNeil competing, and hosted a number of big name concert acts in the newly-located concert precinct area.
“The Superloop Adelaide 500 is a world-class event and we have worked hard to improve the event experience for spectators in recent years, and the latest findings only support our hard work.”
This year’s event, which saw a Thursday Virgin Australia Supercars Championship practice session for the first time and a concert appearance from the Red Hot Chilli Peppers, drew record Foxtel ratings and a four-day crowd of 254,000.