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Melb Cup Carnival $714m Stimulus To Aust Economy
Research by IER confirms last year's 4-day Melbourne Cup Carnival (Victoria Derby Day, Melbourne Cup Day, Crown Oaks Day & Emirates Stakes Day) which attracted 389,000 attendees was also celebrated by more than 4.3 million people nation-wide & was responsible for stimulation of State & Territory economies around Australia to the value of $714.1 million. In addition, the Carnival: attracted 73,825 out-of-state-visitors (despite being in the midst of a global financial crisis); delivered more than 114,000 bed-nights in commercial accommodation throughout Victoria; & generated more than 2,240 full-time equivalent jobs in Victoria (much of this employment stimulated as a result of increased demand on the retail, hospitality & accommodation sectors).