Birmingham and the West Midlands region will benefit from a £778 million investment to stage the 2022 Commonwealth Games, the government has confirmed today.
The public funding, which includes contingency, will be split approximately 75% / 25% between investment from central government (£594 million) and Birmingham City Council and a number of its key partners (£184 million).
This investment will deliver significant benefits for Birmingham, the West Midlands and the UK long after the 11 days of sport in 2022 are over. Birmingham 2022 will open up a wealth of opportunities, including business and trade, cultural engagement, volunteering, physical activity, jobs and skills, education and tourism. Over 1 million tickets will be made available for spectators from across the UK and around the world.
Additional commercial revenue will be raised by the Birmingham 2022 Organising Committee and Commonwealth Games Federation Partnerships through ticket sales, sponsorship, merchandising and the sale of broadcast rights.
Regular financial updates on the budget will be provided in the lead up to the Games. The Birmingham 2022 Organising Committee will also lay its accounts before Parliament in the usual manner for government arm’s length bodies.
Birmingham was awarded the rights to host the Games in December 2017. This announcement comes following a detailed budget review that took place after Birmingham was awarded host city rights.
Cllr Ian Ward, Leader of Birmingham City Council, said: “The level of investment coming into the city and the wider West Midlands as a result of our decision to successfully bid for the right to host the Commonwealth Games, is huge.
“The Games are undoubtedly a catalyst, bringing forward many regeneration and infrastructure schemes, so they are delivered much quicker that we could have done so otherwise.
“The event also gives us a golden opportunity to reposition the city and region on a global stage and bring citizens together. The announcement of the budget is a time to reflect upon this and thank all of the partner organisations that have joined forces to put resources into the local contribution to the overall Games budget.”
Birmingham 2022 Commonwealth Games budget
Birmingham 2022 will open up a wealth of opportunities for people across the West Midlands region and the UK, including cultural engagement, business and trade, volunteering, physical activity, jobs and skills, education and tourism.
With an estimated global audience of 1.5 billion, Birmingham 2022 offers a unique opportunity to harness the power of sport and cultural activities to boost the West Midlands region and to promote Global Britain across the Commonwealth as we leave the EU.
The evidence from previous host cities demonstrates the significant benefits of staging the Games. Gold Coast 2018 Games is expected to have delivered a £1.3 billion boost to the Queensland economy.
The economic benefits from the Games will include new employment and improved skills, investment and export opportunities and increased tourism.
The Games provides an important opportunity for local and regional suppliers and the Games partners are already working with businesses across the West Midlands to ensure that they make the most of this. On the Gold Coast, 84% of contracts were won by local or regional businesses and in Glasgow, 76% of the total value of contracts awarded went to Glaswegian or Scottish companies.
To ensure that local companies start to capitalise on the opportunities that the Birmingham 2022 Commonwealth Games present, briefings for hundreds of businesses have already taken place and more are planned in the run up to the Games.