The Brisbane 2032 Olympic and Paralympic Games will deliver a 20-year $70.7 billion windfall to Australia, international professional services firm Deloitte has claimed in a new report – but only if it acts as a catalyst for economic reform.
Released a day before Brisbane marks seven years until the Olympic cauldron is lit at Victoria Park, Deloitte’s Going for Gold report found that between 2032 and 2052, the Games would give Greater Brisbane alone a $39.5 billion economic boost.
But Deloitte Access Economics lead partner Pradeep Philip told a business lunch in Brisbane on Tuesday that such a scale of success was not preordained; it would require a concerted effort from the private and public sectors to fully capitalise on having global attention in 2032.
Brisbane 2032 Organising Committee President Andrew Liveris (left) and Queensland Sport Minister Tim Mander at Tuesday’s business lunch.Credit: AAP
“Success does not come without intent, without a plan, without dedication and effort – and even then, all this merely puts you in the best possible position for success,” he said.
Deloitte’s Pradeep Philip.Credit: Dion Georgopoulos
As the world became more aware of Brisbane through the 2032 Games, Philip said investment would follow.
“With a global spotlight on Brisbane and Australia as a result of the Olympic Paralympic Games, the brand recognition of this region will get a significant boost, and our brand can be so much more than tourism,” he said.
“So the question we ask is, what happens if you better utilise this brand shock to drive a more robust lift in our export investment effort for future years?
“Indeed, lifting our brand value by even one point on the brand score index corresponds to around an additional $1 billion in foreign direct investment and exports each year.”
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