The cost-cutting Queensland government will re-evaluate the future of the Gold Coast V8 race early next year, but insists it will continue to support major events.

The Gold Coast 600 has a contract which covers the race this year and in 2013, but Supercar boss Tony Cochrane says there’s no way the event can survive without government support.

“We’ll probably sit down at the start of next year and start to look at the future,” he told reporters at Friday’s launch of the October 19-21 race.

Mr Cochrane says last year’s race injected $55 million into the Gold Coast economy.

“This event has the best return on investment of any event conducted in Queensland each year, so it’s a very, very strong event which more than stands on its own two feet.

“I’m very confident this event will withstand any sort of scrutiny going forward in the future.”

What it can’t withstand, he said, was the amount of funding which would be needed to bring back open-wheel Indy cars.

“That adds $12 million a year to the event and in this day and age that money’s just no longer around.”

Tourism Minister Jann Stuckey did not say what level of government support would be available after the current contract expires, but indicated the event would not be abandoned.

“The mood of the government is to support major events,” she said.

“We are very aware … of the economic benefit, also the social benefit, of major events and also the Gold Coast being a leader in those.”

Mr Cochrane is comfortable the new government wants to back tourism and says he’s not concerned for the future of the event, mainly because of its strong return on investment.

He is hoping spectator numbers will reach 200,000 this year.

International guest drivers in October will include Marco Andretti, grandson of the legendary Mario Andretti and son of champion driver Michael Andretti who won the Gold Coast event in 1994.

Andretti will drive with Australian Todd Kelly, while Formula 1 driver Nick Heidfeld will race with David Reynolds.