Governor of Tasmania Kate Warner AC believes the Tasmanian show circuit has a bright future, but the Royal Launceston Show needs the public's continued support to survive.
There were fears that the 2019 event would not go ahead as organisers continued to grapple with financial problems that had forced the show to reduce to a one-day event in recent years.
Professor Warner officially opened the Royal Launceston Show on Thusday, and said there were two factors that had given her confidence in the future of shows in Tasmania.
"The first is the federal government's announcement of $20 million grants to keep the shows alive. This will be provide up to half a million per grant to upgrade, maintain, build or buy showground infrastructure," she said.
"I think the second promising thing is the success of the recent Burnie Show, which attracted big crowds.
"As our president here has said recently, the future of [the Royal Launceston] Show is tied to the future of the Tasmanians show circuit as a whole."
The Royal Launceston Show reportedly owed the City of Launceston more than $100,000 in 2017, but its financial issues ahead of this year's event had not been specified.
Professor Warner said the show circuit was vital for Tasmanians to get a first-hand look at the value of agriculture.
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"I think agricultural shows bring communities together, this is particularly true in smaller areas," she said.
"Agricultural shows are really important because they encourage people from the cities and large towns to better understand where their food and fibre comes from.
"As a child, I can remember so much looking forward to the annual show each year, the Royal Hobart Show, in my case. For us, it was a highlight for the year and something we looked forward to for months."
Professor Warner spent the morning watching the judging of the Angus heifers, Southdown rams and Guernsey dairy cows, placing ribbons on the winners.