Melbourne’s major events magic under the spotlight at AICD board dinner

Melbourne’s greatest competitive advantage may not be a harbour, a reef or a postcard landmark. It may be something harder to replicate – the city’s habit of showing up

That point came through with some humour at the AICD Board and Melbourne Stakeholder Dinner, where the absence of natural icons was framed less as a limitation than as a strategic choice. As Janet Whiting AM observed, “The reality is that we don’t have a rock, a reef, or a harbour. That we can publicise.”

Instead, Melbourne has built its visitor economy around events, institutions and shared experiences.

The numbers suggest the strategy is working. Victoria’s visitor economy reached $46.7 billion in total tourism spend in the year ending December 2025, with 118.7 million visitors. Melbourne was also Australia’s leading city for interstate visitor spend, trips and nights in the March 2025 quarter, with domestic overnight visitors spending $3.2 billion and staying 9.6 million nights.

The AICD event, held at Melbourne Museum on Wednesday 17 June, brought together the AICD Board, Victorian members and stakeholders from the major events, arts, sport, business and industry sectors. AICD Chair Naomi Edwards delivered the official welcome, with AICD director Kathleen Bailey‑Lord guiding the evening and panel discussion on Melbourne – the events capital.

The panel featured Amy Auster, CEO of the Policy Institute of Australia; the Hon. Martin Pakula, Chair of the Australian Grand Prix Corporation; and Janet Whiting AM, President of the Council of Trustees at the National Gallery of Victoria.

Why Melbourne’s major events strategy continues to deliver

The discussion explored why Melbourne’s events advantage has endured – and what directors need to consider if it is to continue.

Auster said the value of major events cannot be assessed only through economic multipliers.

“Economics is not about the money,” she said. “Economics is about creating the conditions for a life that is well lived.”

That broader definition of value is reflected across Melbourne’s major events calendar. The Australian Open 2026 drew a record 1,368,043 fans to Melbourne Park over three weeks. Sport and Recreation Victoria estimates the tournament contributes more than $565.8 million to the state economy each year. Visit Victoria has also reported that the state’s major events calendar delivered $3.3 billion to the Victorian economy in 2022-23.

Pakula pointed to the city’s concentration of venues as a structural advantage, particularly the proximity of major sporting and event infrastructure to the city centre.

Rising expectations for major event experiences

Audience expectations are also shifting. Pakula said the modern event extends beyond the headline attraction, with greater emphasis on the overall experience across the precinct.

“You want people to be coming back year after year after year… you’ve got to keep making it different, new attractions, and frankly better.”

This creates an ongoing requirement for event organisers to invest, adapt and refresh – not simply maintain existing formats.

Whiting said Melbourne’s strength is reinforced by collaboration across institutions, describing it as “a relationship city”.

Leaders across sport, arts and culture operate within a connected ecosystem, where audiences often move between sectors rather than participating in only one.

Governance challenges in major events and cultural institutions

The discussion also highlighted the governance complexity facing boardsin the sector.

Whiting said arts institutions must balance artists, audiences, sponsors, government and community expectations, often in contested environments. Reflecting on past protests involving an NGV sponsor, she said:

“I think you’ve got to pick how you deal with the issue. First of all, if you can avoid the issue, that’s the best outcome, but you’ve also got to be respectful to all your stakeholders.”

Pakula pointed to a different set of governance pressures in major sporting bodies, including global rights holders, government funding arrangements, commercial partnerships and significant safety considerations. 

Future risks for Melbourne’s events economy

Looking ahead, the panel identified complacency as a key risk.

Other states are investing heavily in events and infrastructure, while some of Melbourne’s major venues are ageing.

Sustaining competitive advantage will require continued investment and a clear focus on what differentiates Melbourne’s model.

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