Queensland businesses are being encouraged to collaborate early with the State government in preparation for the 2032 Olympic and Paralympic Games, where billions of dollars worth of exposure are on the table.
Research by KPMG predicts that the Games will deliver up to $8.1 billion in benefits to the State, including a $4.1 billion boost to tourism and trade.
In 2000, the Sydney Olympic Games contributed up to $6 billion in international exposure for Australia, with $6.1 billion inbound in tourism spending.
During that period, $413 million worth of Olympic business came to Queensland with an estimated injection of up to $50 million into local economies.
Chamber of Commerce and Industry Queensland (CCIQ) senior policy advisor Gus Mandigora said that while the Games are 10 years away, the State could benefit from the lead-up to the Olympics if the government and businesses collaborate effectively.
“We know the Games will present billions of dollars in advertising exposure value to South East Queensland and beyond, which is likely to generate significant post-COVID confidence, as well as business and tourism opportunities, highlighting Queensland as an attractive place to visit and do business,” Mandigora said.
“Queensland as a whole could cash in on some of this exposure, through tourism, hospitality and events, but also in other sectors such as sports and recreation and professional services.”
Mandigora also said it was essential for Queensland businesses to know the details about what projects and opportunities are planed for the 2032 Games and how, when and where they could make the most of them.
“The 2032 Games have the potential to leave a lasting legacy on the Queensland economy through improved tender processes and procurement opportunities, but that potential will only be realised if government and business work together from the start.”
“We’re calling for details on an Olympics plan for business so those looking to cash in on opportunities can start to plan and invest now to ensure they’re well placed compete for those opportunities.”
Businesses can register their details on the Brisbane 2032 website in order to stay updated on procurement opportunities.
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