Paul Nicolaou hails The Everest’s $30 million boost to NSW economy

·

Racing punters are set to pump an impressive $30 million into the New South Wales economy as they celebrate the upcoming TAB Everest Day at Royal Randwick on Saturday, October 19, according to an exclusive economic analysis by Business Sydney.

Paul Nicolaou, executive director of Business Sydney, remarked that the richest race in turf history is poised to “send a ripple of excitement across the length and breadth of our city.”

“Apart from the feel good factor, the Everest and the eight-week racing carnival associated with it creates very tangible economy boosting results for hotels, clubs, restaurants, cafes and point to point transport operators,” Mr Nicolaou told The Sunday Telegraph.

“The big day alone is a supercharged event with consumer spending leading up to it at around $30 million – add to this the 2,000 jobs associated with the Everest.

“Over the eight week carnival, consumer spending just continues to add to the cumulative total.”

The Business Sydney leader further noted that the $30 million figure didn’t include wider business activity, such as sponsorships and marketing.

Source: The Daily Telegraph.

Advertisement

Share:

KEEP UP TO DATE WITH TGH

By subscribing you accept our Terms of Service and Privacy Policy.

Advertisement

Latest News

The 30th Greek Film Festival of Sydney to be presented by Benchmark Greek Law

The 30th Greek Film Festival of Sydney has announced its presenting partner for 2025, Benchmark Greek Law.

Greek Australians heading to Europe face travel disruption as Middle East conflict escalates

Airlines with flights between Australia, the Middle East and Europe are rerouting services and cancelling flights due to Middle East conflict

Tomaras brothers plead guilty over twin attacks in Sydney’s Glebe

Wolli Creek brothers Yianni Tomaras, 33, and Meneleos Tomaras, 30, have pleaded guilty to affray after attacking a former friend twice.

Cumberland Councillor Steve Christou slams rate hike amid cost-of-living crisis

Former Cumberland mayor and current councillor Steve Christou was the lone voice opposing a 7.1% council rate rise at this week’s meeting.

Independent and ethnic media in Australia face uncertainty after Google cuts funding deal

A group of multicultural publishers, including The Greek Herald, has been left in limbo after Google opted to end a funding deal early

You May Also Like

Alleged baby abductor Ilias Sammy Latsis may withdraw guilty plea

Ilias Sammy Latsis appeared in the Adelaide Magistrates Court via video link on Tuesday suggesting he may withdraw his guilty plea.

Greece, China vow to deepen mutually beneficial cooperation at ASEAN meeting

Greece and China have pledged to further deepen mutually beneficial cooperation and jointly work toward better bilateral relations.

Greece sets up semi-final clash with Slovenia at Olympic Qualifying Tournament

Egypt put up a fight, but Greece did not disappoint in front of 11,216 fans in the stands of the Peace and Friendship Stadium in Piraeus.