Event Fesiblility of Hosting International Racing Event in Canbera

Topics: Tourism, Australian Capital Territory, Canberra Pages: 12 (3084 words) Published: December 3, 2012
Canberra Institute of TechnologyCentre for Tourism, Hospitality and Events| Department of Tourism and Hospitality and Events. Assessment Cover Sheet| Subject name:| Event Industry Practices and Feasibility|

CRN:| EVNT 124, CRN 22502|
Student’s name:| Simon Cox|
Student’s ID number:| Cit 012908|
Assessment item:| Assessment 3 Event Feasibility|
Date due:| Wednesday 21st November|
Class facilitator: (teacher)| Melanie Chettle|
Email:| melanie.chettle@cit.edu.au|
Class day & time:| Wednesday 5.30- 8.30|

“I certify that I have read and understood the assignment policy and that the work presented in this paper is my own work or has been acknowledged from the sources indicated”

Student’s Signature: _______________________

Event option 1 V8 Supercar Event, Canberra 2013
“The V8 Supercar Championship Series is one of the worlds‟ largest and best known touring car categories, recognised internationally as a leader in motorsport and entertainment. The Championship consists of 14 Championship events across Australia, New Zealand and Bahrain in the Middle East in 2010, as well as racing at the Formula 1 Australian Grand Prix. In 2010 it added the incredible Yas Marina Circuit in Abu Dhabi to the Championship.” www.v8supercars.com.au -------------------------------------------------

V8 Supercar Events are looking at celebrating the Championship Series by hosting a one off racing event in Canberra in 2013; coinciding with the Centenary of Canberra. -------------------------------------------------

The Championship Series official sponsors include Bigpond and Channel 7 and this event will attract other major sponsors involved in racing and in the Centenary. -------------------------------------------------

The two-day event will be held in to launch the series over the weekend 19-21 January 2013. -------------------------------------------------

Client: Miss Lucy Mills, Event Manager, V8 Supercar Events

Advantages and disadvantages of ‘your company’ taking on this event

Purpose and rationale of this event
The main purpose of the Canberra 2013 supercar event is to promote Canberra as an attractive tourist destination, desirable from an intrastate and interstate perspective. This will have a subsequent flow on effect of positive brand recognition in “Canberra” and potentially increasing the length of visitor stay and expenditure by providing quality, inactive and exciting entertainment able to be enjoyed by a diverse range of consumer profiles. As a result, three five objectives have been identified and these are: 1. Maintaining and/or building demand for visitation to Canberra. 2. Valuable marketing exposure of sponsors linked to the event. 3. Immediate revenue creation on the day of the event, though selling of merchandise and consumer product or services. 4. Increasing the length of stay and visitor expenditure in the Canberra community. 5. Physiological reinforcement that Canberra has professional logically capability to host the event without incident. When an comparative analysis is done against similar events such as The 2009 Clipsal 500 Adelaide V8 Supercar event directly provided the South Australian economy “with an economic bonanza estimated to be worth more than $33 million.”(South Australian Government, n.d) “The number of interstate and overseas visitor numbers coming to Adelaide specifically for the 2009 event totalled 13,600 providing huge returns to the State and while attendance numbers were predictably slightly lower from 2008 figures the overall economic benefit grew to a conservative figure of $33.5 million” As at the 15th of October 2012 Auckland's Pukekohe Park Raceway V8 Supercars unveiled plans for a $6.6 million...
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