The Victorian Government estimates that the F1 Grand Prix event is worth more than $250 million to the state’s economy. Photo: Engage Victoria.
The Victorian Government is looking for community feedback on proposed alterations to legislation that supports the Formula 1 Australian Grand Prix.
The Australian Grand Prix Amendment Bill has been drafted with two major goals: to boost safety around the park and to support the annual event, which is growing in popularity.
The 2025 F1 Australian Grand Prix attracted nearly half a million fans, an increase of more than 140,000 compared with the 2019 race.
With the event’s growing popularity, the process of setting it up and dismantling it is being extended beyond the current seven-day race period. This shift, with more work being done, means that workers and vehicles are operating in public areas for longer, with more intense works. This represents a potential risk for pedestrians, cyclists and motorists.
“We know that Albert Park is a community that’s engaged and passionate about their park – this consultation ensures the local community can have their say on these proposed changes,” Member for Albert Park Nina Taylor said.
The proposed legislative changes include:
- Extending the racing period for parts of Albert Park from seven days to up to 21 days, while “protecting public access”. This will allow essential works to be finished in a controlled space.
- Enabling the Australian Grand Prix Corporation to host non-motor sports events, hoping to bring new events to Victoria, peripheral to the Grand Prix.
- Increasing payment to Parks Victoria to support the maintenance and upkeep of Albert Park
- “Other” corporate and intellectual property changes.
The Australian Grand Prix is secured in Melbourne until 2037, making it a longstanding part of Victoria’s tourism and events scene. The proposed changes are set to support the use of Albert Park by locals while allowing the event to grow and become a significant part of the economy.
The event adds more than $250 million to the Victorian economy each year, boosting the hotel, restaurant and hospitality industries, and stimulating local jobs and businesses. The government said more than 1145 full-time jobs were supported by the race and related activities.
“The Formula 1 Australian Grand Prix is one of the highest-attended races on the Formula 1 calendar – pumping more than $268 million into the Victorian economy each year, supporting more than 1000 jobs and keeping our hotels, restaurants and businesses busy,” Minister for Tourism, Sport and Major Events Steve Dimopoulos said.
Community members and stakeholders are invited to have their say on the proposed changes over the next two weeks. Visit the Victorian Government’s website.
