The race that stops the nations or spends the nation?

Spend, spend spend... photo

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.