Raff Ciccone (Victoria, Australian Labor Party) Share this | Hansard source

Today I want to highlight the immense significance of the 2023 Melbourne Cup carnival, an event that goes far beyond the exhilarating races and extravagant fashion. The race that stops the nation is not just a sporting spectacle; it is a vital engine driving the economy and creating jobs and job opportunities. The Melbourne Cup serves as a powerful magnet to tourists, both domestic and international. Visitors from right around the world are drawn to the Cup and rightly so, filling hotels, restaurants and shops. This surge in tourism not only boosts revenue for local businesses but also provides a substantial injection into the economy. The hospitality sector thrives and small businesses flourish thanks to the influx of visitors seeking an unforgettable experience.

The carnival is also a significant source of employment. Think about the countless individuals working tirelessly behind the scenes, from event organisers and security personnel to catering staff and cleaning crews. The carnival provides income for many people and supports the livelihoods of individuals who rely on these jobs to make ends meet.

The Melbourne Cup is also a testament to Australia's vibrant horseracing industry. The investments made in breeding, training and racing of thoroughbred horses contribute significantly to the agriculture sector and regional communities, fostering economic stability and growth.

The cup also fosters a sense of community pride and engagement. Many local communities come together to celebrate this iconic event, organising festivals, parades and cultural activities. Let us celebrate not just the excitement of the race but also the economic opportunities and jobs it brings to our communities, particularly regional communities.