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Gold Coast Business and the Commonwealth Games: Impact, Legacy and Opportunity

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Gold Coast Business and the Commonwealth Games: Impact, Legacy and Opportunity Gold Coast business and the Commonwealth Games: Impact, legacy and opportunity July 2017 Joan Carlini and Andrew O’Neil Griffith Business School GC2018 FAST FACTS 1.2 million ticketed spectators 70 nations and territories competing 6,600 athletes and 1,200 technical officials IA ED Cumulative global M broadcast audience of 1.5 billion 1,000 hours of television coverage 3,500 accredited and non-accredited media representatives GOLD COAST 2018 COMMONWEALTH GAMES 4–15 April 2018 Australia’s largest sporting event this decade Gold Coast business and the 2018 Commonwealth Games: Impact, opportunity and legacy Joan Carlini and Andrew O’Neil, Griffith Business School Overview The Gold Coast will host the 21st Commonwealth Games from 4–15 April 2018. This is the Gold Coast’s first experience in hosting a mega-event, which means there is a knowledge gap about how the business community can benefit. Understanding the key macro factors surrounding the Gold Coast 2018 Commonwealth Games (GC2018) is crucial for the Gold Coast business community, especially for those operating small and medium private enterprises. There will inevitably be disruption confronting business as a consequence of GC2018, but as the detailed analysis in this report makes clear, the scope for the Gold Coast business community to leverage opportunities from GC2018 is tangible and significant. Based on interviews and a review of previous studies of major sporting mega-events, this report assesses the impact and legacy of GC2018. Most importantly, it outlines a roadmap for Gold Coast businesses to take advantage of the once-in-a- generation opportunities that will flow from the Games. Foreword Our aim as ‘Friends of Griffith Business School’ is to increase the collaboration between the School and the business community to help build a sustainable, diverse and prosperous Gold Coast. We seek to combine the School’s strengths in cutting edge, rigorous, and independent research, with the passion and ‘can do’ attitude of our local entrepreneurs to drive better outcomes for business on the Gold Coast. With a particular focus on private enterprises, our vision is to provide research that will be a vital resource for Gold Coast businesses in driving improvement and sustainability in a manner that is practical, and easy to understand, implement and access. In our first collaboration, we have focused on the impact, opportunity and legacy of the 2018 Commonwealth Games. As one of the most significant events on the Gold Coast in recent times, there is an opportunity for both the business community and the region. Making the most of any opportunity requires planning, thought and research. This report, which draws on the views of Gold Coast private enterprises and businesses, is our way of assisting the community to understand the implications for the Gold Coast and the disruption to business, and embrace the short- and long-term opportunities presented by the Games. Most of all this report is the beginning of a journey in which collaboration between Griffith Business School and the business community will drive long term success for our Gold Coast. Janelle Manders Chair, Friends of Griffith Business School Contents Introduction 1 Gold Coast—Delivering legacy 2 Competition schedule of events 2 Lessons from past sporting mega-events 4 Glasgow 2014 4 Sydney 2000 Olympics 4 Barcelona 1992 Olympics 4 PART 1: BACKGROUND AND CONTEXT AND BACKGROUND 1: PART Summary 5 Maximising Gold Coast business opportunities 6 Benefits for the Gold Coast 6 Preparing the Gold Coast 9 Leveraging strategies 12 Pocket ‘checklist’ for Gold Coast business 13 Cultivating legacy—issues and considerations 14 Conclusion 16 PART 2: LEVERAGING OPPORTUNITY LEVERAGING 2: PART References 17 Introduction Commissioned by Friends of Griffith Business School, this report investigates the potential A note on method impacts of the Gold Coast Commonwealth Games In preparing this report, and in consultation with on private enterprise and the opportunities it Friends of Griffith Business School, the authors presents for business on the Gold Coast. Since identified a series of stakeholders who would winning the Commonwealth Games bid in 2010, be interviewed. Following initial interviews, a the Gold Coast has witnessed a surge of private sampling technique was used to identify additional and public investment in infrastructure and interviewees who would contribute to, and expand development. GC2018 is a source of economic the scope and substance of, the analysis contained benefit, as well as civic pride, and is expected to in the report. create up to 30,000 jobs, with $2 billion injected into the Queensland economy [1]. Still, hosting a The initial study included a semi-structured mega-event such as the Commonwealth Games interview questionnaire, with interviews ranging is not without challenges. Historically, businesses from 15 to 60 minutes in duration. The sample in the host cities make decisions based on ‘boom’ consisted of 34 participants. Ten participants predictions. But evidence suggests that economic were drawn from private enterprise, representing outcomes do not always match expectations or finance, retail, tourism, information technology, materialise in the ways envisaged [2]. telecommunications, and supply chains. Four participants were from local and state government, This report seeks to provide clarity around the and seven from non-government organisations various opportunities for business resulting from representing industry groups. Finally, 13 experts GC2018. It also aims to assist business to set in sport, events, legacy, urban planning, human realistic expectations enabling strategic decisions resources, marketing, and clinical psychology were that will drive success, long after the Games has consulted. Findings from the initial study were concluded. The report is structured in two parts. presented at a Friends of Griffith Business School Part one provides background and context by lunch forum on 5 May 2017, which included an detailing the scope of GC2018, lessons from industry panel. Feedback from the discussions was previous global sporting mega-events, and the incorporated in this report. unique characteristics of GC2018 in relation to the Gold Coast. Part two identifies the macro factors affecting the Gold Coast, and provides an in-depth analysis of the opportunities for business to leverage major benefits from GC2018. Griffith Business School | 1 PART 1 BACKGROUND AND CONTEXT Gold Coast—Delivering legacy Based on the results of the March 2017 Griffith Preparation for the Games has provided the Gold University–Gold Coast Bulletin Business Confidence Coast with significant urban development and Poll, the 2018 Commonwealth Games has already infrastructure investment that will deliver a major had a significant impact in boosting Gold Coast legacy. The Gold Coast has undergone substantial business confidence. The poll asked business to rate regeneration with a surge of investment in the their confidence regarding the economic benefits to lead up to the Games. The City’s infrastructure has be derived from the Commonwealth Games over the benefited, with significant funding concentrated subsequent 12 months. The results were positive— on sporting facilities and transport. Over the with 44% ‘very confident’, 31% ‘confident’, 19% long-term, this investment has the potential to ‘moderately confident’, and only 6% ‘not confident’ transform the City into a leader in sport, health, [3]—confirming that Gold Coast business expects and knowledge-based industry to support and the Games to yield significant benefits and strengthen the economy. The transformation of opportunities. Gold Coast Parklands into the Commonwealth Games Village provides 1,252 residences alone. This medium density housing is situated in the health and knowledge precinct, located near Griffith University, the light rail, Gold Coast University Hospital, and 7 hectares of new parkland. Competition schedule of events The northern Gold Coast will have six events, with Broadbeach will host basketball, netball and lawn competition scheduled every day of the Games. The bowls. Oxenford Studios, located at Movie World, feature boxing, squash and table tennis. Nerang will see one The Carrara Sports and Leisure Centre hosts four day of mountain biking. sports, while the Carrara Stadium anchors the Opening and Closing Ceremony and athletics. Rugby The Gold Coast CBD features the Gold Coast sevens is located at the Robina Stadium in the last Hockey Centre, Gold Coast Aquatic Centre and the three days of the Games. Southport Broadwater Parklands. The Gold Coast Hockey Centre in Labrador has events scheduled Currumbin Beach will host the race walk and road every day, as does the Gold Coast Aquatic Centre cycle event. Coolangatta will feature beach volleyball with diving and swimming. The marathon is a free for seven days. Track cycling and shooting are to be event scheduled at the Southport Broadwater held in Brisbane. Parklands. Griffith Business School | 2 South The events are distributed from Brisbane to Stradbroke Coomera Island Coolangatta, with some basketball preliminary matches located in Cairns and Townsville. 1 Hope Island Gold Coast Paradise 1 Coomera Indoor Sports Centre Point 2 Oxenford Studios Helensvale 3 Nerang Mountain Bike Trails 2 Runaway Bay 4 Gold Coast Hockey Centre 5 Gold Coast Aquatic Centre 4 Labrador 5 6 Southport Broadwater Parklands 6 7 Gold Coast Convention and Exhibition Centre (GCCEC) Southport 3 8 Broadbeach Bowls Club Event
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