The cancellation of a world-class motorcycle race at Phillip Island has left a $42 million hole in the local economy, sparking a push by the Bass Coast Shire for new projects to entice domestic visitors and offset the financial damage.
The Australian Motorcycle Grand Prix attracted an estimated 92,000 people to Phillip Island before the pandemic, and businesses say the event delivered major economic benefits to the region.
Border closures resulting in the loss of international travellers, who were drawn to the penguin parade and other attractions, has also inflicted major financial pain on Phillip Island’s tourism-dependent economy.
The Bass Coast Shire is now seeking state and federal government funding for an infrastructure binge to stimulate more domestic tourism in the region and break Phillip Island’s economic reliance on international travellers.
Source : https://www.theage.com.au/national/victoria/cancellation-of-motogp-leaves-phillip-island-42m-worse-off-20210730-p58ecz.html399