SA govt reports record economic benefit from Adelaide 500
Friday 3rd March, 2023 - 9:00am
The Valo Adelaide 500’s comeback event delivered a record economic benefit, according to figures released by the office of the South Australian Premier.
The 2022 Adelaide 500 is claimed to have generated an economic benefit of $51.85 million for the state’s economy, 34.3 percent up on the preceding event in February 2020 ($38.61 million) and higher also than the record of $45 million which was set in 2019.
Following its shock axing by the previous government, the Hall of Fame Supercars event became a key election promise of Peter Malinauskas, who led Labor back into office in March last year.
The Adelaide 500 would deliver a four-day crowd of 258,200 in its comeback, beating Premier Malinauskas’ stated aim of 250,000 and also the record low (four-day) 2020 figure of 206,350.
Jobs supported, media items, and PR value are also reported as improving materially on 2020, with 12,000 people claimed to have travelled to South Australia from interstate for the event, generating 96,671 visitor nights.
“The Valo Adelaide 500 was a resounding success on-track and now we know it was an incredible success off-track too,” said Premier Malinauskas.
“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.”
This year’s Adelaide 500 again serves as the Repco Supercars Championship season finale, on November 23-26.
Also on the bill will be the Dunlop Super2 Series (including Super3), Porsche Paynter Dixon Carrera Cup Australia, Gulf Western Oil Touring Car Masters, Fanatec GT World Challenge Australia Powered by AWS, and S5000, while Robbie Williams will perform in the Sunday post-race concert.
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