Melbourne Cup to bring AUD 700 mln to Australian economy

The Melbourne Cup horse racing event is expected to contribute more than 700 million AU dollars (536.9 million U.S. dollars) to the Australian economy, Minister for Trade, Tourism and Investment Steven Ciobo said Tuesday.

Twenty-four horses, including nine internationally trained ones, competed in the 156-year-old event, one of the world's top horse racing events.

A huge crowd of 97,479 witnessed jockey Kerrin McEvoy and trainer Robert Hickmott clinch a second Melbourne Cup, as German-bred Almandin secured a narrow victory, awarding owner Lloyd Williams a record fifth win in the 6.2 million AU dollar (4.7 million U.S. dollars) race.

Seven-year-old gelding Almandin just edged out Heartbreak City, while pre-race favorite Hartnell was third.

It is the second time that jockey McEvoy has won the Melbourne Cup, although 16 years apart, while Hickmott trained Green Moon to the win for Lloyd Williams in 2012.

Victoria Racing Club (VRC) Chief Executive Simon Love said this year's event was a truly thrilling spectacle.

"The Emirates Melbourne Cup attracts the finest international staying horses as well as thousands of people who travel to Melbourne from interstate and overseas to be part of the race that stops a nation."

"It's brilliant to see the Emirates Melbourne Cup trophy remain in Victoria, with Lloyd Williams cementing his place in history, and Kerrin McEvoy combining with Robert Hickmott to deliver an exciting finish to our great race," Love said.

Ciobo said the Melbourne Cup has been the winner of the major events category at the Australian Tourism Awards for the last two years running.

Tourism Australia promotes the 156-year-old Melbourne Cup as a truly glamorous horse racing carnival with fashion, entertainment, celebrities and elite horses. Enditem