Construction, tourism not the only industries to benefit from Gold Coast Commonwealth Games

Cassidy KnowltonDecember 8, 2020

The construction and tourism industries are set to be the biggest beneficiaries of the Gold Coast's successful bid for the 2018 Commonwealth Games, but the ICT, transport and services industries are all set to receive a boost as well.

Both the state government and business leaders welcomed the announcement on the weekend, which is expected to give the state an economic boost worth $2 billion and create 30,000 jobs over the next seven years.

Graham Cuthbert, executive director of the Queensland Master Builders' Association, says a large portion of the spending will be put to the construction industry with $500 million of investment expected over the next seven years.

"Certainly for the area it will be a huge benefit, there is a fair amount of construction to be done, both on venues on the Gold Coast and in Brisbane," he says.

The games will require new sporting venues on the Gold Coast, along with accommodation for athletes, along with upgrades to existing facilities in Brisbane as well, Cuthbert said.

"But I think the big key is the flow on it will have to accommodation for tourists, corner shops, corner little medical centres, all the infrastructure you get when construction boosts."

Cuthbert says tourism and construction are "absolutely linked", so the two industries will see benefits at the same time, but also says other industries such as information technology and retail will see bigger benefits as well.

"The light manufacturing stuff will be required, retail is there, there is a spin across the entire city. For every onsite job we do, we create more for other businesses."

Games consultant and entrepreneur Andrew Bell says those 30,000 jobs will appear across a number of industries, including in technology and retail.

"Across a very broad base, there will be a lot of required services. Even talking to universities, they are cranking up and doing a whole lot of work in terms of supporting new positions created within that."

"Areas that people wouldn't have imagined would get benefits. And not just limited, there is that knock on effect, so cab drivers and restaurants will see things start to build and as the state starts to focus on it over the years to come."

According to a report published by the Commonwealth Games Federation, budgets have been set aside for various elements of the games that may very well include the use of local firms and services businesses.

The games will see money spent on new information systems, telecommunications and other technologies, including the need for broadcasting equipment, installation of communication infrastructure and operating costs.

Money has also been set aside for various traffic management costs.

Other money has been set aside for medical services, catering and transport, while millions have been set aside for security costs as well. Money has also been set aside for merchandise costs.

Premier Anna Bligh said in a statement the bid would deliver up to $2 billion in benefits, saying the event would bring "superb tourism opportunities" to the Gold Coast.

"The Games will also act as a catalyst to fast track infrastructure development," Bligh said.

The Gold Coast has been suffering from low tourism numbers, due in part to the higher Australian dollar and low consumer sentiment.

"We have made a promise to the Commonwealth Games Federation and will deliver on this promise."

This article originally appeared on SmartCompany.

 

 

Editor's Picks