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Melbourne's Investment In Sport Case Study

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Melbourne is acknowledged as one of the major sporting centres of the world and a leader in the international sports business market. Drawing on your unit and general readings what were the factors that led to Melbourne's investment in sport, and is this strategy viable? Furthermore, are these claims of global sports business leadership justified, and can Melbourne justifiably claim to be the world’s sporting capital? Provide evidence to support your argument. Melburnians are proud to name their city as the greatest sporting city in the world. Awarded the Ultimate Sport City in 2006, 2008 and 2010 by Sport Business International, Melbourne’s illustrious yearly roster includes sporting mega-events such as the Australian Open, Melbourne Cup, …show more content…

In this instance, where a city heavily reliant on manufacturing industries for prosperity have undergone massive economic cuts, a sport-centered strategy is usually sought as a potential mechanism in regenerating a more service-oriented economy . In 1982, the Cain Labour Government initiated a policy to diversify the urban economy towards touristic-based investments. The Government implemented organisations, Central Area Task Force and Central Melbourne Tourism and Leisure, to enhance the well-being and image of central Melbourne by integrating tourism with recreation and arts activities. Focusing on the uses of global sporting events as a high-profile quest to justify and provide stimulus for local developments, the Cain government reclassified Melbourne’s national role as a ‘major trading, cultural and sporting center’. A shift in political leadership, the reshuffling of government and the construction of sporting infrastructure, granted Melbourne the inauguration to compete with vying sporting …show more content…

Nevertheless, securing the Australian Formula One Grand Prix until 2020, will not only mark the 25th running of the event in Victoria but coerces Melbourne’s ultimate sport hosting reign. Based on the number of different sporting franchises, televised network providers and quality of sporting arenas, alone, would entitle Melbourne as one of the greatest sporting capitals. However, a city that does not benefit, financially, from costs incurred by hosting mega-sporting events, is not a great sporting city. As outlined by the Cain Labour Government, the development of sport in Melbourne was a fiscal strategy implemented to regenerate the declining economy. Although the sport-centered strategy proved successful in the 1980s, the price of hosting a mega-event such as the Australian Grand Prix does not accumulate profit. In order to benefit financially, the Victorian Government with Tourism Victoria must reconsider and increase media and advertising placement during the race. In conclusion, mega sporting events is an international business, and if Melbourne wants to be the world’s greatest sporting capital, she needs to be earning the mega

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