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TODAY marks one year until the 2018 Gold Coast Commonwealth Games which will be Australia's biggest international sporting event in a decade, predicted to provide a $2 billion boost to the local economy.
More than 100,000 visitors are expected to be on the Gold Coast during the games and more than 1.5 billion people will tune in to watch the event on television, and this is expected to deliver long term financial benefits to Queensland.
"The Games will shine a spotlight on the Gold Coast as a world-class events destination and provide a significant economic impact worth an estimated $2 billion," Federal Trade Minister and local MP Steve Ciobo says.
"This is a once-in-a-lifetime opportunity for our city to take centre stage and we're determined to make the most of it."
Based on figures from the Melbourne 2006 Commonwealth Games, the visitors that attend the Gold Coast Games will deliver more than $270 million to the local and state economy.
It's expected tourism numbers will rise over the short to long term as a massive television audience is exposed to the Gold Coast as a quintessentially Australian experience including great beaches and wildlife.
The equivalent of up to 30,000 full time jobs will also boost the local economy along with an injection of $200 million in new sporting and community infrastructure.
An additional $95 million has also been committed to Stage 2 of the Gold Coast Light Rail which will add Parkwood and Helensvale to the system.
Business News Australia
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