Economic boost opportunities
Engaging local industry and creating jobs are one of the key objectives for the Brisbane 2032 Olympic Games. Billions of dollars in economic growth and an increase in job availability is expected for the next 20 years. According to early forecasts, the Olympics will generate an estimated $8.1 billion economic benefit for Queensland and $17.61 billion total benefits for Australia.
This includes a $4.6 billion economic boost to tourism and trade for Queensland and $8.5 billion nationally, and $3.5 billion in social benefits for Queensland and $9.11 billion nationally through factors such as health, volunteering, and community benefits.
The games will present a vast opportunity for billions of dollars in advertising exposure value to South East Queensland and beyond, as well as business and tourism opportunities highlighting Queensland as an attractive place to visit and to do business.
Business & Job opportunities
Hosting the 2032 Olympics will not only significantly boost the economy but it is also expected to create around 120,000 new jobs, including 90,000 jobs for people living in Queensland. With a push of development and infrastructure projects ready to be established, there will be many opportunities for businesses to take advantage of. In Brisbane alone, there are three new sports stadiums, along with a $1 billion redevelopment of the Gabba.
There’s also funding for the development of cycling lanes, pedestrian walks, and green bridges to link different parts of the city, as well as several other infrastructure projects.
What can businesses do now?
The Brisbane 2032 Olympic and Paralympic Games is expected to create a 20-year pipeline of opportunities for Queensland businesses to take part in new projects, create valuable partnerships and improve supply chains, and develop their business capabilities.
At this stage, businesses are encouraged to register their interest to receive updates about the procurement opportunities and how they can be involved in the Games.
- Check the procurement opportunities with Business Queensland. You can also register for the Buy Queensland supplier newsletter to receive business opportunity updates from Queensland Government.
- You can also follow the Chamber of Commerce & Industry Queensland (CCIQ) on social media for news of upcoming free masterclass workshops and seminars on how to seize business opportunities from Brisbane 2032 Olympic Games. CCIQ will also release a report soon regarding on what the Olympics mean for Queensland business, you can visit their website to sign up to know when the report is released.
- Be “Tender ready” by registering your business capability to QTenders and be notified on relevant open opportunities across Queensland Government. You can also view the Forward Procurement Pipeline to receive notice of future opportunities. In terms of improving your tender approach, there are tips and resources available on the Business Queensland website.
- Plan and include your involvement in the Brisbane 2032 Olympic Games in your medium to long term business plan. Put your business in stronger position by taking a proactive approach and start to leverage the Olympics procurement opportunities as they begin to develop.
With lots of opportunities being presented by the Brisbane 2032 Olympic Games, now is the time to keep your eyes out for opportunities and prepare your business ready for the Games. You can work with your business advisors if you need help improving competitive tender responses, or if you need assistance in identifying and assessing opportunities that may arise from the Brisbane Games.