The
construction and tourism industries are set to be the biggest benefactors 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."
Patrick Stafford
Smart Company
Business & Investment Opportunities
YourVietnamExpert is a division of Saigon Business Corporation Pte Ltd, Incorporated in Singapore since 1994. As Your Business Companion, we propose a range of services in Consulting, Investment and Management, focusing three main economic sectors: International PR; Healthcare & Wellness;and Tourism & Hospitality. We also propose Higher Education, as a bridge between educational structures and industries, by supporting international programs. Sign up with twitter to get news updates with @SaigonBusinessC. Thanks.
No comments:
Post a Comment