A Liverpool Commonwealth Games could be worth £1bn – but how accurate is that projection?

Report by Deloitte says successful bid for 2022 games will generate £170m of benefits through construction and tourism and claims another £750m could come through ‘legacy’ benefits. Tony McDonough reports

Liverpool Mayor Joe Anderson with the team aiming to bring the Commonwealth Games to the city

 

Liverpool’s economy could benefit to the tune of almost £1bn if it wins the race to host the 2022 Commonwealth Games, a new study claims.

However, the bulk of that forecast – some £750m – is based on highly speculative projections.

The report, by accountancy firm Deloitte, estimates £110m could be generated pre-games, largely through an increase in tourism in Liverpool and 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.

Legacy benefits for Liverpool, mostly in the five years after the event, could generate £750m, with a further £120 million shared across the UK.

However, that £750m figure is considerably more speculative than the figures relating to construction and tourism.

It is based upon increased business productivity dependent on the upskilling of the city region workforce as well as a possible rise in exports and foreign investment.

Liverpool is bidding to host the Commonwealth Games in 2022

 

Mark Lawrie, a partner at Deloitte, claimed the report contained a “robust socio-economic analysis within Treasury guidelines”.

He added: “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.

Liverpool 2022 bid chairman Brian Barwick added: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.”

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