Events in Ballarat boomed in 2022 and 2023, generating more than $44 million for the city, up almost 50 per cent.
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Mayor Des Hudson said it was extremely promising to see Ballarat events contribute such an enormous amount.
He said there was significant growth economically, from Ballarat Begonia Festival and Ballarat Heritage Festival.
The Begonia Festival generated $4.5 million to the community, with 65,000 visitors coming to the March event.
Visitation for Ballarat's events also increased, up 24 per cent according to the report.
There were 165,542 Ballarat locals and 189,295 visitors, to the 368 various events held across the 12-month period.
From those visitors, 92,000 were day trips and 97,000 stayed overnight.
For Ballarat's three major events; Begonia Festival, Heritage Festival and Winter Festival, council used a dedicated PR agency.
During the September 27 council meeting, councillors welcomed the report.
Councillor Tracey Hargreaves said the wide range of events generated a massive financial impact and brought liveability to Ballarat.
"The events deliver a lot more than just the dollars," she said.
"We've got such a great range of different types of events from sports and music and heritage."
The council's investment was $3.2 million for the events they funded and delivered, which had a return of investment of one to 14.
Cr Ben Taylor said given the return on investment it was a "great bang for buck".
He said even events which might not bring in as much finances, brought the community together like the Begonia Festival.
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