The Australian Open (AO) continues to demonstrate its immense economic and cultural impact, cementing its position as Australia’s largest economic generator in the sports industry. In 2024, the tournament delivered a record-breaking $533.2 million in economic benefits to Victoria, according to a new report by Nielsen Sports.
This milestone contributes to a staggering $3.14 billion in economic benefits over the last decade. The AO is not just a tennis event; it's a major driver of growth, tourism, and job creation, with far-reaching effects on Victoria’s economy.
Economic Impact and Record Job Creation
The Australian Open 2024 attracted record crowds, surpassing one million fans over the course of three weeks. These crowds generated a substantial economic impact, particularly in the local industries of tourism, hospitality, and retail. The tournament created 2,351 full-time equivalent jobs, marking a 23.48% increase from previous years, with notable job growth in the accommodation, trade services, entertainment, and construction sectors.
Visitors to Melbourne also contributed significantly to the economy. They booked 622,491 nights in Victorian hotels, smashing the previous record set in 2020 by 8.3%. Additionally, the average daily spend per visitor reached a new high of $308, reflecting a 6.2% increase from 2023 and a remarkable 47.8% growth compared to the pre-pandemic event in 2020.
Global Viewership and International Influence
The Australian Open’s global appeal is unparalleled. In 2024, the tournament garnered 558 million unique global viewers, a 57% increase from the previous year. Cumulative viewership surpassed 2.17 billion, marking a 24% growth. The event’s new Sunday start contributed to a 42% rise in global viewership during Round 1, and streaming platforms saw a 60% increase in viewership compared to the past five years.
The AO’s global influence is especially prominent in countries like China and the United States. In China, viewing hours doubled to 189 million, with the women’s final between Qinwen Zheng and Aryna Sabalenka attracting an average of 8.2 million viewers. In the United States, linear TV hours viewed increased by 45%, with Coco Gauff’s quarterfinal match becoming the third most-watched live sports event in the country on that day.
Perception and Community Pride
The Australian Open’s influence extends beyond economic numbers, inspiring pride and excitement in the local community. A staggering 99% of Victorian residents surveyed believe it is important for the state to host the tournament, and 94% of visitors agree that the AO is a major highlight in the global sporting calendar. Hosting the AO is a source of immense pride for Victorians, with 69% of residents affirming that the tournament makes them proud to be part of the state.
Strengthening Melbourne’s Role as a Global Sports Hub
Australian Open 2024 is a prime example of how investment in major sporting events and infrastructure has a lasting impact on the local economy. Minister for Tourism, Sport and Major Events Steve Dimopoulos emphasized that Victoria’s investment of nearly $1 billion in the Melbourne and Olympic Parks Precinct has played a key role in the event's continued growth and success.
Conclusion
The Australian Open 2024 is more than just a tennis tournament; it is a global event that delivers profound economic benefits, strengthens Melbourne’s position as a premier sporting destination, and fosters community pride. With record-breaking attendance, viewership, job creation, and spending, the tournament has proven its significance as a key driver of economic growth for Victoria.
Looking ahead, the Australian Open will continue to be a beacon of success for both sports and the broader economy, attracting international attention and enhancing Melbourne's global reputation as a sports capital.
