Is the Melbourne Cup and Spring Carnival just an excuse for us to spend up big....?
It is estimated that we will spend $53 millions this year on fashion alone.
$140 million on food and drink.
$806 million on betting through the spring carnival. The average bet being $8.50. And it's reported that during peak times a bet will be placed every 2 seconds.
It estimated that the average race goer will spend $1,200.
Overall $455 million will be spent.
This year the crowd at the Melbourne cup - was 104,000. This is approximately the same number of homeless people in Australia.
Just think what else could be done with that $455 million to improve the life of this experiencing homeless and disadvantage in Australia.