The $5 million Melbourne Opera production of German composer Richard Wagner's epic recreation of Norse mythology is set to bring opera buffs from around Australia - and the world - to Bendigo for the event.

City of Greater Bendigo mayor Andrea Metcalf said the month-long festival would spark off a tourism boom for central Victoria.

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"It is fantastic news for our hotel accommodation, retail and hospitality sectors," the mayor said.

The four operas that make up the Ring cycle run more than 16 hours in total which will see the production being staged over a period of 10 days at the Ulumbarra Theatre on three separate occasions in the space of a month.

."This is the biggest production ever staged by Bendigo Venues and Events (BVE) staff and we've secured this exclusive opportunity thanks to our incredible investment in world-class facilities," Cr Metcalf said.

"This production will be top of the bucket list for opera fans and 'Ring-nuts' who travel the world to see this pinnacle of opera

"Greater Bendigo enjoys an enviable reputation on Australia's cultural map and this will no doubt drive tourism and attract significant visitors from around Australia and overseas.

"Not only (is it) one of the most ambitious opera productions ever seen in Australia, but also rarely performed internationally because of its complexities and mammoth size in production terms."

Cr Metcalf said Bendigo's "magnificent 900-seat Ulumbarra Theatre" was chosen because it was big enough to hold the show's immense scenery set featuring gods, giants, dragons and a 130-piece orchestra.

Bendigo Symphony Orchestra's vice-president and Ulumbarra Foundation board member Nigel McGuckian was hopeful the presence of top class singers and musicians in Bendigo could have a flow-on effect to local talented artists.

He said the Ring cycle would have spin-offs to local people, just like this year's Elvis Presley exhibition at the Bendigo Art Gallery would.

"It's amazing, incredible," Mr McGuckian said of the Ring cycle coming to Bendigo.

"I remember when it was held in Adelaide and it blew everyone away. People were saying 'fancy doing the whole Ring cycle'.

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"This means our theatre is good enough to hold this type of show rather than having to go to Melbourne.

"BVE is bringing a lot of events here (to Bendigo) and that's because its attitude is right.

"We're so ideally suited to hold these events because you can walk to venues and you don't have the huge traffic problems of Melbourne."

Mr McGuckian had visions of the Ring cycle being a huge festival in Bendigo next year.

"People will be flying in from Sydney to spend a week here for this. It's a fantastic opportunity for us," he said.

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