Games Economic Boost For North West
31 August 2017, 10:16
It's claimed hosting the 2022 Commonwealth Games in Liverpool could bring £1 billion to the economy in the North West.
The study, conducted by business advisory firm, Deloitte estimates £110 million could be generated before the Games, that would largely be through an increase in tourism due to Liverpool's higher profile, and construction work in the city creating additional jobs.
During the Games, the spending of visitors and those involved in the Games on hotels, hospitality, retail and travel, could generate £60 million in additional economic activity.
Significantly, legacy benefits for the city, mostly in the five years after the event, could account for £750 million, with a further £120 million shared across the UK.
Liverpool 2022 Bid Chairman Brian Barwick said: "This report shows what a successful bid could mean in hard terms for the city, region and the wider UK. Liverpool is a world-famous city, which people love to visit. Our
Games plan, centred on Liverpool's iconic waterfront, combines existing world class venues and stunning new facilities, such as a 50m pool in the city centre docks. It will attract visitors from around the world and provide a huge boost to the economy during the Games and for years to come.
Joe Anderson, Mayor of Liverpool said: "This study shows that hosting the 2022 Commonwealth Games makes huge sense for the city, wider region and UK as a whole, delivering significant and lasting economic and social benefits.
"It will be truly transformational and will accelerate up to £1 billion of planned investments to transform the city's world famous waterfront. Existing plans for Everton FC's new stadium
at Bramley-Moore Dock, 1,700 new homes in the north docks, the 10 Streets Stadium Gateway Development and Kings Dock destination development will all be accelerated, creating 12,000 new jobs and leaving a lasting legacy for communities across the city."
The city's competing against Birmingham to host the Games and will find out next month if it's been successful.