Was the Gold Coast 600 a success for the Queensland taxpayers

[Axeman444]

i'm wondering why anyone other than Stmookey, Yap and Muznik actually care whether the QLD taxpayers got their money's worth, as they are the only ones who have posted in this thread that list there locations as QLD (assuming they pay the appropriate amounts of tax )

why do the usual naysayers give a toss if they didn't pay for it?

[yap]

Originally Posted by Axeman444

i'm wondering why anyone other than Stmookey, Yap and Muznik actually care whether the QLD taxpayers got their money's worth, as they are the only ones who have posted in this thread that list there locations as QLD (assuming they pay the appropriate amounts of tax )

why do the usual naysayers give a toss if they didn't pay for it?

As far as I am concerned, this goverment up here wastes so much money in other areas, a few more million every year isn't going to matter.... (especially when it is an event that I go to every year and enjoy)

I am sure it pays for itself in the ongoing economic benefit of the money that was splashed around over the 3 days recirculating around the local economy

I really wish we could get accurate crowd figures though (and they would be available for the concerts at least, as we were given a special wrist band once we entered - can't be too hard to count how many of those were handed out)

[E.B]

Originally Posted by cavvy

19 V8 Supercars: Gold Coast D2 Seven 551,000 176,000 98,000 152,000 79,000 46,000
20 Ten News At Five Sun Ten 529,000 173,000 134,000 94,000 50,000 79,000
21 Four Nations Rugby League 2010 Nine 455,000 268,000 15,000 156,000 6,000 9,000

30 FIA Formula One World Championship 2010 One 326,000 86,000 117,000 41,000 49,000 34,000
V8 Supercars: Gold Coast – Raceday Xtra D2 Seven 300,000 87,000 54,000 60,000 49,000 50,000

Let the politics begin !!!

You have to add the Channel TEN viewers to the F1 'score'. I think it was close to 110,000. Not everyone can watch F1 on ONE.

[D.R.T.]

Originally Posted by yap

I am sure it pays for itself in the ongoing economic benefit of the money that was splashed around over the 3 days recirculating around the local economy

Re circulating the local economy doesn't add any economic benefit to Queensland.

The only way the event recieves an economic benefit is if 'new' money is introduced to Qld by international visitors or interstate visitors which is in serious question (especially the international component)

[peckstar]

wrong DRT. Recirculating is how things work.

[yap]

Originally Posted by D.R.T.

Re circulating the local economy doesn't add any economic benefit to Queensland.

The only way the event recieves an economic benefit is if 'new' money is introduced to Qld by international visitors or interstate visitors which is in serious question (especially the international component)

I can't remember the figures for what the Qld Govt puts in, and I am only quoting Grade 11 Economics here, but if the govt spends 1 dollar, then whoever gets that spends 80c of it and so on and so on... so that the initial 1 dollar input ends up putting 2 or 3 dollars into the local economy

This spend also extends to things like the local coppers getting overtime for doing some extra shifts directing traffic, all the labourers / crane drivers / truck drivers involved in putting it up and down and then they go spend the extra money in the local area

(Someone please correct me if I am wrong, as I was in Gr 11 Economics about 25 years ago)

[Robert Ryan]

Re circulating the local economy doesn't add any economic benefit to Queensland.

wrong DRT. Recirculating is how things work.

Your right Peckstar a very strange concept of economic benefit.

[peckstar]

Originally Posted by Robert Ryan

Your right Peckstar a very strange concept of economic benefit.

according to Yap it was year 11 economics 25 years ago

and then the realisation hit me, i did year 11 economics 25 years ago, man im old

[stmookeyj033]

Originally Posted by cavvy

Not straight up & down the numbers rik:

19 V8 Supercars: Gold Coast D2 Seven 551,000 176,000 98,000 152,000 79,000 46,000
21 Four Nations Rugby League 2010 Nine 455,000 268,000 15,000 156,000 6,000 9,000

Underlined the Melbourne viewers, bolded the totals for the national capitals (sorry Tas). 98,000 Melburnians watching the V8s, 15,000 watching league.

Different timeslots, league was on late night in Melbourne and had little to no promotion.

[cavvy]

Originally Posted by Axeman444

i'm wondering why anyone other than Stmookey, Yap and Muznik actually care whether the QLD taxpayers got their money's worth, as they are the only ones who have posted in this thread that list there locations as QLD (assuming they pay the appropriate amounts of tax )

why do the usual naysayers give a toss if they didn't pay for it?

The facts are that if the Q taxpayers dont believe they got value, the event is doomed. That Axe is the point, got it !!

I started this thread & to add to your font of knowledge Axe, to question does not make you a naysayer as distinct from people who dont share your own point of view.

I'm both a critic & an admirer of the VESA gravy train. A critic of their attempts to take rounds off permanent circuits, yet an admirer of their ability to have the public purse fund their profitability. Despite this admiration of their business nous, I dont agree with it on most occasions. Am I a naysayer Axe?

As for economic activity, I share pecks understanding. Thats how its done, I'm not saying its right, but it is how it is measured.

[Axeman444]

Originally Posted by cavvy

The facts are that if the Q taxpayers dont believe they got value, the event is doomed. That Axe is the point, got it !!

I started this thread & to add to your font of knowledge Axe, to question does not make you a naysayer as distinct from people who dont share your own point of view.

I'm both a critic & an admirer of the VESA gravy train. A critic of their attempts to take rounds off permanent circuits, yet an admirer of their ability to have the public purse fund their profitability. Despite this admiration of their business nous, I dont agree with it on most occasions. Am I a naysayer Axe?

As for economic activity, I share pecks understanding. Thats how its done, I'm not saying its right, but it is how it is measured.

wake up on the wrong side of the bed did we? or you just hadn't had your coffee? ypu started this thread? well i bow down to you...

nowhere did i say you were are a naysayer, but there is one person who has posted in this thread in particular who definately is.

If the event is doomed, then perhaps there is a more appropriate event that would replace it, elsewhere perhaps, potentially bigger and better?

[D.R.T.]

Originally Posted by yap

I can't remember the figures for what the Qld Govt puts in, and I am only quoting Grade 11 Economics here, but if the govt spends 1 dollar, then whoever gets that spends 80c of it and so on and so on... so that the initial 1 dollar input ends up putting 2 or 3 dollars into the local economy

Yap I will look into this and try to get a brief definition or summary into the practice.

My understanding was that Queenslanders spending other Queenslanders money does not improve or add any substantial economic benefit to the state. ie Its the same money being spent in different areas which doesnt offer any overall benefit or impact.

Governments invest in events to try and entice new money from outside the state or country and inject this into the state economy. ie Queenslanders spending Victorian's money and then the multiplier effect of this money trickles down through the state economy.

This is why so much emphasis in the Indy event and also the NSW street race has been placed on interstate and international visitors.

[Oldtony]

Could have the wrong info but my understanding is that the Govt contribution for this year was budgeted at $6 million. Last year was budgeted at $11.4 million and as I understand it was slightly underspent at around $10.8 million.
The year on year cut in costs was largely the fact that an overseas series was not invited this year. Last year the A1GP was more than half paid for even though they didn't show. The efforts to recover the prepaid amount have had no success to date and have gone very quiet.
The other drop in costs is in the smaller set up task for the shortened circuit.
The V8 Supercar organisation would call it a success.
The teams facing the repair bills may be less enthusiastic.
Local accommodation and traders seem to be reporting that it was way down on the hieght of Champ car involvement but wasn't too bad compared with the last couple of years. There was some shift in spending from Surfers to Southport due to the concert location.
Did Gold Coast benefit economicaly? Jury is still out, but interestingly despite doomsayers, like myself predicting a Bogan Benefit, it was more family friendly than past years and the night time "fesivities" were more civilised.
Did the Qld Tax payer benefit? Depends on how you do your sums but I think many think the money could be spent for equal economic, and more social gain elswhere.
Be interesting to see some research from a credible source on the level of TV expoure overseas. The Australian ratings seemed to be down a bit but you certainly couldn't fault the image the pictures of the Coast presnted.
Oh, and the partying politicians and their guests loved it.

[Gaz170]

The answer will depend on whose figures you trust.