Games big business win

Research shows $500 million Coast trade bonus

THE Gold Coast Commonwealth Games is expected to deliver a $500 million business win for Queensland.

New research released by the State Government shows strong intent by overseas delegates who came to a trade and investment program associated with last year’s event to do more business here.

Almost two-thirds of the 350 international attendees say they are likely or extremely likely to increase their direct investment here or buy more of our exports.

“Over the next nine years, we expect the Games will generate around $480 million in direct foreign expenditure for Queensland,” Tourism Industry Development Minister Kate Jones said.

“The data is proof that major sporting events like the Commonwealth Games drive outcomes for Queensland companies.

“The Games trade program helped us to grow our connections with some of our closest trading partners,” she said.

The

Games Commonwealth last April was largely heralded as a success – despite local businesses complaining of profit downturns as some holiday-makers shunned the region – boosting hopes of a 2032 Queensland Olympics.

The trade program associated with the event created a perfect opportunity to boost the Sunshine State’s share of the $1 trillion-a-year trade between Commonwealth countries. A third of the overseas delegates said they expected the new business to be generated within a year and to be worth more than $1 million.

The research shows that 82 per cent of the total 1800 Australian and international delegates said the program improved their perception of Queensland as a place to do business.

More than four in five delegates reported improved capability to expand their business in Australia. And more than a third of Australian attendees said they were likely or extremely likely to secure export or investment deals.

The Gold Coast left a lasting impression on visitors, with more than 90 per cent of delegates indicating a strong likelihood to return for business