The Durban Commonwealth Bid Committee has announced that a report, 'Economic Impact, 2022 Commonwealth Games, South Africa: Durban Host City' has been available on the Bid Committee's website www.durban-2022.com since 2 March 2015, when Durban officially lodged its bid in London.
Amongst the key findings of the study, conducted by Ernst & Young, is that:
Investment in infrastructure for the Games is expected to contribute to the lasting benefits of the host city. The added exposure to global markets will also provide opportunities to attract and enhance tourism and foreign direct investment. In total, the 2022 Commonwealth Games is expected to deliver up to R20bn in output to the economy, translating into an estimated R11bn GDP growth.
The hosting of the Games will create a wide range of opportunities across sectors and importantly for a variety of demographics of the population ranging from skilled to unskilled individuals. In addition to full-time employment, flexible jobs will be supported which may include part-time, contractor work prior to, during and post the Games.
It is estimated that approximately 1.3 million tickets to events will be sold over an 11 day period at affordable average prices as well as entrance fees to fan parks, contributing significantly to direct revenues. In order to promote the Games legacy and bring together foreign and local people, ticket prices to events as well as fan parks will be carefully determined to support this legacy.
Positive revenue impact across all sectors will be derived as a result of increased economic activity, including the construction, hospitality and entertainment, accommodation, food and beverage, safety and security, transportation services, tourism as well other commercial and public sectors either directly or indirectly.
It is estimated that 7,300 athletes, 1,000 technical officials as well as their families and other supporters will visit and tour the country, contributing to the national fiscal.
