Hamilton 2026 Commonwealth Games Bid Committee releases Economic and Social Impact Study for Stadia and Operations
The extensive report demonstrates the $1.19 billion national economic impact that the 2026 Commonwealth Games would deliver and set city ahead 20 years
Significant boosts to the local GDP, job market, tourism industry and affordable housing are just a few of the benefits outlined in the report.
HAMILTON, ON, Sept. 24, 2020 /CNW/ - The Hamilton 2026 Commonwealth Bid Committee today announced the significant results of the Economic and Social Impact Study. The study was commissioned by Hamilton 2026 Commonwealth Bid Committee and was written by PwC Canada.
The 34-page report indicates the outstanding potential for growth and pandemic relief that the planned stadia and operations budget for 2026 Commonwealth Games could bring to the Hamilton region, including an estimated $300 to 374 million increase in local GDP and $1.19 billion national economic impact.
"Although only the first phase in our efforts to independently quantify the impacts of our 2026 Games hosting framework, PwC's report adds to the growing volume of evidence validating this initiative as a powerful tool in aid of regional recovery," said Louis Frapporti, Chair of Hamilton2026 Commonwealth Games Bid Corporation. "When read in conjunction with the global values framework, and quite apart from our affordable housing initiative, the value proposition around 2026 as a multi sector accelerator is undeniable."
Moreover, the Games are projected to bring with it 14,000 to 16,000 local jobs that will not only stimulate the economy, but also serve as a substantial investment in human capital. Games' organizers anticipate extensive community consultation around commitments to equality, diversity and inclusion at the board and management levels of a future hosting entity as well as in hiring and procurement. Particular focus will be placed on material representation in all facets of Games operations by our indigenous communities.
The report highlights that previous hosts have seen a 33-percent increase in tourism in the three years following the event, therefore Hamilton 2026 has the unprecedented power to jumpstart the region's economy and development, setting the city ahead 20 years.
Increased exposure on the international stage in the form of 1.5 billion television viewers builds the economic profile of the city, directly benefitting Hamiltonian businesses. The Gold Coast 2018 Commonwealth Games led to 34-percent increase in exports and foreign direct investment.
These economic benefits are conservatively predicted to more than triple public expenditure while simultaneously encouraging increased private investment in community and sports infrastructure.
But the benefits to the region are more than just fiscal. The anticipated social impact of hosting the 2026 Commonwealth Games includes a dramatic increase in affordable housing, a surge in sports participation and an expanding — and healthier — population. A second report has been commissioned to address housing and will be released in the near future.
The Commonwealth Games can also be leveraged to reduce carbon emissions and accelerate environmentally sustainable community growth featuring more bike lanes and green space.
The goals of the city of Hamilton and the goals of the Hamilton 2026 Commonwealth Games are one and the same — transform the region into a premier destination led by a strong, healthy and active community truly making it the 'best place to raise a child and grow old'. The PwC Canada preliminary impact study predicts that these are feasible achievements through hosting the Commonwealth Games in 2026.
To view the full study, please click here.
For a comprehensive global framework report on the impact of prior Commonwealth Games, please click here.
Members of the community and media are invited to join a two-part virtual forum with the volunteer group leading the bid process to bring the 2026 Commonwealth Games to Canada.
Each session will include details of the Official Games Plan, followed by a Q&A with a panel of community members where comments and feedback are invited. Those that are unable to attend either session, questions may be submitted to the panel in advance.
Part One: The Game Plan
Wednesday, September 30, at 4pm EDT
Part Two: Affordable Housing & Social Impact
Thursday, October 1 at 4pm EDT
For all the latest information and updates about the Hamilton 2026 Commonwealth Games Bid, please register here.
About Hamilton 2026 Commonwealth Bid Corporation
Hamilton 2026 is comprised of community leaders and volunteers in the Hamilton area. The group had successfully sought the rights to be Canada's Candidate City for the 2030 Centenary Commonwealth Games, but were invited by the Commonwealth Games Federation and Commonwealth Sport Canada to pivot to consider the hosting of the 2026 Games in order to accelerate pandemic relief and economic recovery.
SOURCE Hamilton2026 Commonwealth Games Bid Corporation
Victoria Owen, Hamilton2026 Commonwealth Games Bid Corporation, [email protected]
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