Industry sources believe Premier Daniel Andrews has his eyes on a third international production, however the government has so far remained tight-lipped. It is also not saying how much it spent on securing the Helpmanns.

Victorian tourism minister John Eren said Melbourne was the obvious home for the Helpmann Awards.

"From our famous East End precinct to homegrown productions, we have so much to celebrate," he said. "Hosting these awards on our turf will inspire more Victorians to go centre stage."

A spokesman for Mr Eren could not guarantee that the cost of bringing the Helpmanns to Melbourne would be matched by tourism benefits dollar-for-dollar. He stressed, however, the government has worked closely with Visit Victoria to ensure "the best possible value for our state".

Melbourne will host the Helpmann Awards from 2019, with the 20th annual awards due to occur the year after. Live Performance Australia boss Evelyn Richardson said the awards had a "very successful" 18-year run in Sydney, but it was time for a new home.

"We are a national awards, so it makes sense for us to extend the reach of the awards and take them to other cities," she said. "We are certainly intending on broadening it even further in future years to make more opportunities for the public to attend. We will have more to say in the future with respect to whether we have different categories."