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Events Valuable For Bass CoastA new report shows events bring nearly $130 million of benefits to Bass Coast each year. By Bass Coast - 15th September 2011 - Back to News Commissioned by Bass Coast Shire Council, The Social and Economic Value of Events study (PDF 777kb) looked into the social and economic value of events in Bass Coast. Council’s Economic Development Manger, Peter Francis, said the report gives a valuable insight into the impact of events.
"Each year, Council commits money and staff resources to supporting and managing events and we wanted a clear picture of what this delivered for our community," said Mr Francis.
"The study considered 87 events that occurred in the 2010/11 financial year and found that the direct and indirect financial benefit to the Bass Coast community was nearly $130 million.
"Of the top 18 events, 17 of these were motor sport events held at the Phillip Island Grand Prix Circuit. The report found that for every dollar spent by Council on these events, there is an economic benefit to the community worth 628 times the initial investment."
Mr Francis said the study also found that community and family events have the greatest positive social impact upon the community, closely followed by art, music and markets.
"The events were held right across the Shire, with 54 on mainland Bass Coast and 34 on Phillip Island. These results really confirm that our events are a vital part of the social and economic fabric of our community.
"Council is currently reviewing its events policy, and this report provides valuable information to help us set the right strategic direction," Mr Francis continued. "We will also be asking for input from event organisers and community members over the coming months as part of the policy review."
The Social and Economic Value of Events study was undertaken by consulting firm Urban Enterprise, and was partially funded by Regional Development Victoria. A copy of the report is available on Council’s website. For more information, contact Economic Development Manager, Peter Francis on 1300 BCOAST (226 278).
Source: www.gippsland.com Published by: news@gippsland.com
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