Deloitte study firms up Liverpool’s Commonwealth bid
A study by Deloitte, which is advising the Liverpool bid for the 2022 Commonwealth Games, has claimed that the event could deliver an economic boost to the region of £1bn.
Deloitte said that £110m could be generated pre-Games, largely through an increase in tourism due to Liverpool’s higher profile, along with construction work in the city.
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.
The firm said that the bulk of the economic impact would be felt in “legacy benefits,” mostly in the five years following the event, with benefits of up to £750m felt in the city, with a further £120m shared across the UK.
These figures include place-based benefits, such as those accrued through the development of infrastructure and regeneration projects triggered by the Games, “people” benefits such as health and wellbeing improvements, and productivity benefits through increased tourism, exports and foreign investment.
Liverpool is competing with Birmingham to secure the UK’s nomination, with the winner strongly fancied to be picked as the host.
The city’s bid includes the use of Everton’s proposed Bramley Moore Dock stadium and is supported by Manchester with the provision of existing facilities for cycling and cricket.
Mark Lawrie, partner at Deloitte, 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.”
Brian Barwick, chairman of the Liverpool 2022 bid, said: “This report shows what a successful bid could mean in hard terms for the city, region and the wider UK. Our Games plan combines existing world class venues and stunning new facilities. 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: “The Games will be truly transformational and will accelerate up to £1bn of planned investments to transform the city’s world famous waterfront. Existing plans for Everton FC’s new stadium, 1,700 new homes in the north docks, the Ten Streets Stadium Gateway Development and Kings Dock destination development will all be accelerated.”