Spring carnival sweeps in the cash

The 43-year-old Canberra resident will again visit next week for Oaks Day, meeting up with friends also flying in from Sydney. While in town, they plan to stop for a bite to eat at George Calombaris' Press Club, and perhaps a few drinks at the Westin Hotel.

Ms Kelly, last year's Fashions on the Field winner, has already bought a new outfit for the day but has squared away some time for a shopping spree in Collins Street, near where she is staying at the Alexandra Club. "Coming from Canberra it's great to have a chance to shop at some of the big fashion houses like Chanel," she said.

Tourists like Ms Kelly are why an IBISWorld report has forecast spending will reach close to $286.5 million during the carnival, up 12.6 per cent from last year.

While many would imagine most of that money going into fashion and punting, IBISWorld senior researcher Ian McGowan identifies tourism as the key driver for rising revenues this November. Of total expected revenue, the group expects that about $183.8 million will be spent on flights, accommodation, shopping and sightseeing off the track. An estimated 83,000 interstate and international visitors will converge upon Flemington this week.

The Australian Hotels Association said accommodation providers counted on the significant revenue provided by the spring carnival each year. "It attracts people from right around Victoria, country Australia, even overseas," state chief executive Brian Kearney said.

Bookmakers, betting agents and clothing retailers are the other big winners, generating a combined $85.5 million in the lead up and during the carnival."Essentially, when we look at the figures, we are actually forecasting a significant increase this year over last year's spend-up," Mr McGowan said.

Michelle Campbell, of Rockpool at Crown, said spring carnival is always a busy time at the restaurant. "We're pretty much fully booked. We started getting booking months ago," she said. "It's lots of racegoers looking for a nice meal after spending a day at the track."

Ms Campbell said even Spice Temple, which opened this week, was also starting to fill.

Adam Pope, of Fabulous Catering, said this year he had more carnival bookings, mostly for private car park and nursery functions, than ever before.

The report predicted that racegoers will spend $30 million dressing up for the festivities (up from $29 million 2009).

"It's our busiest time time for millinery," says Lisa Barbar, of Clegs.

Beauty salons are also enjoying the spending splurge, with the report predicting racegoers will spend $17.2 million on manicures, pedicures, spray tanning, blow-dries, professional make-up and waxing.