Celebrating Melbourne’s culture and welcoming more visitors
13 May 2025
The City of Melbourne’s draft Budget 2025–26 will attract businesses, empower and celebrate our diverse multicultural communities, and deliver the blockbuster events Melbourne is famous for.
The Budget provides $150,000 to explore ways to create pocket precincts in our neighbourhoods – which could include community markets, a seafood precinct and business grants for festive decorations.
Council will also look to establish a Little India precinct in Docklands to drive business and activity in our waterfront neighbourhood.
Around 13 per cent of Docklands residents are of Indian descent, and across greater Melbourne, the Indian community is the second-largest diaspora. In 2022, more international students from India studied in Victoria than from any other country.
This initiative builds on the recent establishment of Koreatown in the CBD – with grand traditional Korean totem poles, or jang seung, to be unveiled this weekend at the entrances to the precinct.
With world-class food, unbeatable shopping and top-tier entertainment central to Melbourne’s appeal, Council will continue to support the expanded Business Concierge service.
Now the largest of its kind run by any council in Australia, the service helped more than 110 new businesses open in 2024 – an average of six businesses every week. Over the next two years, Business Concierge is expected to support more than 1,000 new jobs and generate more than $50 million in capital investment in the city.
This Budget invests more than $26 million to deliver and support more than 80 events – from New Year’s Eve and Melbourne Fashion Week to Christmas celebrations, major sporting events and food festivals. This ensures there’s always an iconic Melbourne moment to enjoy, any time of year.
Firelight Festival and Now or Never will return to heat up the winter months – and we’ll explore how we can make the winter events season even hotter next year.
Events run by the City of Melbourne delivered $327 million in economic benefit in 2024, with support provided through events grants contributing to millions more.
Banner poles will also be upgraded with a $2 million investment for events like the Australian Open and Formula 1 Grand Prix, which to generate a festival atmosphere across the city. These will be available for bookings by events taking place in the city, generating additional revenue for Council.
We will back the Melbourne International Comedy Festival, with $130,000 as it gears up for its 40th anniversary – bringing the world’s best comedians to our city and attracting even larger crowds that boost our local businesses.
We will also add to Melbourne’s identity as a creative powerhouse and open-air gallery – a key drawcard for culture-loving visitors – with $6.2 million to support our vibrant arts sector.
Feedback on the draft Budget 2025–26 can be provided on Participate Melbourne from 6pm on Tuesday 13 May until 5pm on Monday 2 June.
Quotes attributable to Lord Mayor Nick Reece
“This Budget delivers on our promise of a better Melbourne – with the nation’s best events calendar, stronger support for our multicultural communities, and less red tape for local businesses.”
“The City of Melbourne’s events calendar attracts four million people to the city each year, sending cash registers ringing with nearly $327 million in economic activity.”
“Melbourne is home to one of the world’s most culturally diverse communities – and this year, we are exploring new ways to activate and elevate our unique and diverse neighbourhoods.”
Quotes attributable to City Economy and Business portfolio head Councillor Kevin Louey
“Creating Melbourne’s first-ever Koreatown and establishing a Little India precinct will add new vibrancy and diversity to our city’s business landscape.”
“As Australia’s most multicultural city, we’re excited to explore even more ways to celebrate and enhance that diversity.”
Quotes attributable to Tourism and Events portfolio head Councillor Mark Scott
“Melbourne’s already a top destination, but we’re preparing for even more demand – with up to 18 million expected visitors in 2028.”
“We are set to deliver another blockbuster year of major events, attracting millions of visitors who will shop, dine and stay in the city. We also look forward to exploring ways to make next year’s winter season even hotter.”
Quote attributable to Creative and Arts portfolio head Councillor Philip Le Liu
“Melbourne’s arts scene is thriving, and we’re proud to support local artists with vital funding and creative spaces that enrich our city’s cultural offering.”
