Racing carnival $620m boost for economy In the picture: Race goers at Flemington take photos of jockey Damien Oliver on Happy Days at Emirates Stakes Day during last year's spring racing carnival. Last year's spring racing carnival generated more than $620 million for the Victorian economy, according to an economic impact study released on Thursday. The study, done for Racing Victoria, found the overall economic impact of the 2012 carnival was up 7.2 per cent on the 2011 carnival, which generated $578 million, an 8.4 per cent increase on 2010. Premier Denis Napthine said at the launch of the study that a marketing campaign targeted at tourists had contributed to a 20 per cent increase in overseas and interstate visitors. Despite an increase in overall attendance - up 2.2 per cent to more than 706,000 - crowds at the Melbourne Cup Carnival at Flemington and the Caulfield Cup Carnival were slightly down on 2011 - 1.1 per cent and 0.5 per cent lower respectively. Attendance in 2012 was also down on the highs experienced between 2005 and 2009, when attendance peaked at 773,000 in 2006. A total of 67,000 interstate and overseas visitors came to Victoria specifically for the 2012 carnival and accounted for 165,000 race day attendances. "These visitors spent more than $128 million while in Victoria, including more than $35 million on accommodation and more than $13 million in the retail sector," Dr Napthine said. Overall, racegoers spent $53 million on fashion, $53 million on food, beverages and race day dining, $10.8 million on transport and $22.3 million on retail. Victorian fashion retailers were the big winners, Dr Napthine said. Racegoers boosted Victoria's retail sector by splashing on an incredible number of fashion items to wear to carnival events. This included 66,000 pairs of shoes, 80,000 hats and fascinators and 32,000 ties," he said. The popularity of country racing also grew during the 2012 carnival, with almost 185,000 attending 100 race days - an increase of 5.3 per cent on 2011. The 2012 spring racing carnival covered 115 race meetings in Melbourne and country Victoria between September 22 and November 25.