28.10.2025
Melbourne set for a $270m boom, with Cup carnival and blockbuster gigs expected to drive a 70% surge in spending
Retail and hospitality businesses expected to be among the big winners
Concertgoers warned about ticket scams
Melbourne is gearing up for an entertainment and excttvitement bonanza, with the trifecta of the Melbourne Cup carnival, Oasis and Metallica concerts expected to drive a once-in-a-decade boom for local businesses.
It kicks off with British rockers Oasis launching its Australian tour on Friday 31 October with the first of three concerts, followed by the four-day Melbourne Cup carnival and wraps up with metal icons Metallica playing their only Melbourne show on Saturday 8 November.
NAB Executive Business Metro & Specialised Julie Rynski said the bumper week reinforced Melbourne’s status as Australia’s event capital.
“This is expected to be the biggest week and a bit of the year for Melbourne’s economy,” Ms Rynski said.
“Events are part of Melbourne’s DNA, but three major events in just over a week is extraordinary and will supercharge business activity.
“The iconic Cup carnival and world class concerts aren’t just cultural highlights – they're economic powerhouses, which we estimate will drive at least a $110 million boost for the local economy and increase weekly spend by 70%.”
Ms Rynski also urged concertgoers to stay alert for ticket scams.
“Unfortunately, criminals will target Oasis and Metallica fans desperate for tickets to the sold-out concerts at Marvel Stadium. Tickets for sale on social media are a major red flag - only buy from authorised resellers.”
Ms Rynski said more than 100,000 people were expected in the city and surrounds on each of the two Saturdays and on Cup Day, which will create a surge in demand for hospitality, retail and accommodation.
“That means packed restaurants, busy hotels and millions of dollars flowing into local businesses,” she said.
“We’ll also see flow on benefits - more shifts for casual staff, more orders for suppliers and a boost in confidence across the sector.
“Small businesses across the country are feeling positive. They’re investing, hiring and planning to grow. We continue to stand behind the ambitions of our customers.”
Founder and CEO of Urban Alley Brewery, Dean Grant, said the Docklands-based independent craft brewery - which has just opened its new $7 million brewpub experience at Chadstone - is ramping up for a huge week of revelry.
Julie Rynski, NAB Executive Business Metro & Specialised
“As soon as we realised there were so many major events happening back-to-back, we got organised to ensure we had the right team in place and we were well covered by our suppliers on the food and beverage front,” Mr Grant said.
“Taylor Swift and Harry Styles brought an amazing mix of buzz and benefits for businesses like ours. We expect this to be just as big, if not bigger.
“The timing couldn’t be better. With daylight savings kicking in, it really feels like the unofficial start of summer.
“We’re anticipating being busy from mid-morning right through to closing as people make a day of it and soak up the atmosphere.”
This unique major event trifecta joins a stellar lineup of major Melbourne events - including the Australian Open, AFL finals series, and Formula 1 Grand Prix - which have collectively contributed more than $1 billion to Victoria’s economy this year.
Notes:
Analysis is based on NAB merchant terminal data.
The Melbourne Cup Carnival and four sold-out Marvel Stadium concerts are forecast to push total spend in Melbourne to more than $270m, a 70% increase on a typical week ($160m).
Melbourne in this instance refers to the CBD, Docklands, Kensington and Flemington only.
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