Australian Formula One Grand Prix Viable? You Bet.

Melbourne. (C)

    Once again criticism questioning the Australian Formula One Grand Prix's viability has risen its ugly head, and once again we'll rebuke it. The figures are out, with the Victorian government shelling out a reputed record $62m to stage the F1 season opener. Are they justified in spending that much of the taxpayers hard earned?
    Despite viewing figures dwindling due to the shift to Pay TV, Formula One is still the most watched sport worldwide outside of the summer Olympics and World Cup soccer. Those events are every four years, whereas F1 is on average every two weeks between March and November every year. Popularity equals exposure. F1 showcases Melbourne and Australia for that matter to the world. The great land Down Under translates to an attractive tourist destination for overseas patrons, even when F1 is not in town.
    During GP week in Melbourne, the restaurants are full, the bars are full, the cafes are full, the night clubs are full, the motels are all full, the transport industry benefits, and guess what? We're all spending money. Doesn't the Victorian government collect taxes from that? Don't these venues need to employ more staff to cater for the demand? The point is, the benefit fiscally, economically and socially is surely immeasurable. Besides, do you think the government would continue to throw money into staging the F1 GP if it was akin to ditching it in the Albert Park lake? Remember the contract was just renewed. The benefits both directly and indirectly are surely tangible.
   See you at Albert Park in 2016....  

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