Brisbane 2032 could bring a $70 billion windfall: Deloitte
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.
'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.'
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Sydney Morning Herald
7 hours ago
- Sydney Morning Herald
Aboriginal corporation lodges application to protect Victoria Park
The local Aboriginal corporation wants permanent protection of the site where the Queensland government plans to build its Olympic stadium. Loading
The Age
7 hours ago
- The Age
Aboriginal corporation lodges application to protect Victoria Park
The local Aboriginal corporation wants permanent protection of the site where the Queensland government plans to build its Olympic stadium.
Herald Sun
10 hours ago
- Herald Sun
Yagara Magandjin Aboriginal Corporation lodge federal application to halt Olympic stadium in Victoria Park, Brisbane
Don't miss out on the headlines from Olympics. Followed categories will be added to My News. A last-ditch bid to halt the development of a 63,000-seat Olympic stadium in the heart of Brisbane has been lodged with the Federal government, over claims the area is among the city's 'most significant' First Nations sites. The Yagara Magandjin Aboriginal Corporation (YMAC) lodged the application on Tuesday, asking for the Commonwealth to declare long-term protection of the area. Such a move could undermine the LNP State Government's plans for the stadium in Victoria Park – earmarked as one of the centrepieces of the 2032 Brisbane Olympic and Paralympic Games. YMAC spokeswoman Gaja Kerry Charlton told the ABC the court action was necessary to protect the site. 'We are very concerned there are ancient trees, artefacts and very important ecosystems existing there. There may be ancestral remains,' she told the outlet. YMAC's court action has been lodged under Section 10 of the Aboriginal and Torres Strait Islander Heritage Protection Act (ATSIHP). Plans for a 63,000-seat Olympic stadium in Brisbane's Victoria Park for 2032 Olympics have been met with major controversy. Picture: Supplied The legislation effectively allows the Federal government to protect the area if the Federal Environment Minister is satisfied it is a 'significant Aboriginal area' or is 'under threat of injury or desecration'. Such legislation would trump laws passed by the State Government in June, which made Olympic projects like the Victoria Park stadium exempt from heritage and planning laws. In a statement, a State Government spokeswoman said the government was committed to 'ensuring the Games deliver a generational infrastructure legacy across Queensland'. 'The Crisafulli Government's new laws underpin the delivery of Games infrastructure on time, on budget, and with a clear legacy for communities beyond 2032,' the spokeswoman continued. The Yagara Magandjin Aboriginal Corporation (YMAC) has lodged a federal application to halt the stadium's development, arguing the land in Victoria Park is 'significant' to First Nations people. Picture: NewsWire / John Gass The current Federal Environment Minister will now have to rule on whether Victoria Park should be subject to a long-term protection order. Picture: NewsWire / John Gass 'The new laws provide a bespoke process that recognises Aboriginal and Torres Strait Islander cultural heritage matters, incorporating engagement and consultation with relevant parties and preparation of a cultural heritage management plan.' Advocacy group Save Victoria Park worked has been vocal in their campaign to permanently protect the area, with the group's spokeswoman Sue Bremner speaking on 4BC Radio on Tuesday about the uphill battle they were facing. 'The State Government has pretty much suspended all relevant legislation, or certainly curtailed, anybody's ability to have an impact on the planning of the Olympic stadium,' she told the program. Ms Bremner said the group were working in partnership with YMAC on the legal action. She countered questions about why the legislation was being used now to oppose the stadium's development, in light of Victoria Park's history of being used as a golf course, rifle range and encampment for WWII American soldiers, by saying the current redevelopment plans were vastly different. Recent overhauls to state planning laws were cited as being necessary for the development of the 2032 Olympics by Deputy Premier Jarrod Bleijie (pictured). Picture: Dan Peled / NewsWire 'The park has grown up with Brisbane, and it's gone through various stages,' Ms Bremner said. 'One thing about a golf course … is that it doesn't change the topography as much. The ridges where the First Nations people camped for thousands of years are still there,' she said. 'That is not going to be the case if this stadium build goes ahead. 'Make no mistake, there's no way you can have a platform flat enough and big enough to build one of these things. They're 14 stories high, they're massive, massive places.' A Department of Climate Change, Energy, the Environment and Water (DCCEEW) spokesman said: 'The department is currently reviewing this application and will take all standard steps to progress it, including engaging with the applicant, the proponent and the Queensland government.' 'The ATSIHPA legislations does not require works to stop while it is being assessed.' In July, a landmark funding agreement between the Federal and State Governments unlocked $3.4bn in federal contributions, confirming a combined $7.1bn Games Venue Infrastructure program to deliver 17 new or upgraded sporting venues across Queensland ahead of the games. The Victoria Park stadium was one of the promised projects and set to host the Games' opening and closing ceremonies, as well as athletics events. Major sporting teams such as the Brisbane Lions, Brisbane Heat and Queensland Bulls have also expressed interest in calling the stadium home in the future.
