Hosting Commonwealth Games could mean £1bn spin off

A study has revealed that hosting the 2022 Commonwealth Games in Liverpool and Manchester could deliver an economic boost to the region and wider UK economy of around £1bn.

The study, conducted by Deloitte, the business advisory firm supporting the Liverpool bid, estimates that £110m could be generated pre-Games, largely through an increase in tourism due to Liverpool’s higher profile, and construction work in the city creating additional jobs for local people.

During the Games, the spending of visitors and those involved in the Games on hotels, hospitality, retail and travel, could generate £60m in additional economic activity.

Significantly, legacy benefits for the city, mostly in the five years after the event, could account for £750m, with a further £120m shared across the UK.

These would take the form of ‘place’ benefits, such as the earlier development of infrastructure and regeneration projects; ‘people’ benefits, for example healthier lives through sports participation and giving local people the skills to succeed; and ‘productivity’ benefits through increased tourism, exports and foreign investment.

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.

“Liverpool has a rich industrial, cultural and sporting heritage and, as a globally-recognised city that has been on its own journey of reinvention, is the perfect place to showcase Britain in a post-Brexit era.”

Deloitte partner Mark Lawrie said:“We have conducted a robust socio-economic analysis within Treasury guidelines and we are confident that the analysis confirms a very positive impact for Liverpool, Manchester and the UK.

“It is also important to recognise that there are a large number of ancillary investments planned that will enhance the city’s infrastructure enabling it to both act as a host for the Games, and as a driver of trade and tourism for the UK. The acceleration of these investments will have a significant impact on the regional economy and help to secure an enduring legacy benefit for the UK.

“We believe that when considered in its entirety this evidence makes a compelling endorsement of Liverpool’s ability to showcase the best of ‘UK Plc’.”