Brisbane 2032 could bring a $70 billion windfall: Deloitte

8 hours ago 2

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.

“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.

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.”

Central to that would be Brisbane 2032’s own emblems and branding, which organising committee president Andrew Liveris said would be ready next year.

“We don’t need the Eiffel Tower, we don’t even need the Seine River – although we have a version of it here, I guess,” he said.

“It’s not the physical landmarks, it’s actually us. It’s you. So that’s the brand.

“Now, how do you do that? How do you actually capture that? We’ve got a lot of creative minds working on that with us.

“We are really intent on displaying us for the 5 billion or so people that will be watching us.”

Queensland Olympics Minister Tim Mander said the report showed the Games were about “a lot more than sport and stadiums”.

“This is a chance for Queensland businesses to engage with the rest of the world, and it’s right throughout Queensland that opportunity will be available,” Mander said.

“Whether it’s in tourism, whether it’s in better connectivity, whether it’s in sports science, sports technology, whether it’s in whatever business, this is an enormous opportunity for Queensland businesses going forward towards 2032 and beyond.

“So it’s very exciting to hear about the report today, and to hear about the impact that others have experienced at previous Olympics.”