The UK Government has released its investment figures ahead of the 2022 Commonwealth Games set to be held in Birmingham.
Birmingham and the West Midlands region will receive a £778 million investment split between central government funding (£594 million) along with Birmingham City Council and its key partners (£184 million).
The government is expecting the investment to create mass opportunity for the city with over one million tickets to be made available for spectators for the games which will take place between 27th July and 7th August.
Mims Davies MP, Minister for Sport and Civil Society stated: “The Birmingham 2022 Commonwealth Games will be the biggest sporting and cultural event ever held in the city. Watched by one and a half billion people worldwide, this is a massive opportunity to showcase the best that Birmingham, the West Midlands and the whole UK has to offer.
“The Games budget is a significant investment in Birmingham and the region that will deliver benefits to local people for years to come. It will increase participation and encourage more people to get active and stay active, and to volunteer to be part of this fantastic event 10 years on from London 2012.”
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.
With an estimated global audience of 1.5 billion, Birmingham was awarded the rights to host the Games in December 2017 following the withdrawal Durban’s bid.
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.”
In the announcement the government alludes to figures from previous host cities and state that Gold Coast 2018 Games is expected to have delivered a £1.3 billion boost to the Queensland economy.
Furthermore there is an emphasis on the creation of local jobs referring to statistics such as 76% of Glasgow’s total value of contracts awarded went to Glaswegian or Scottish companies when the city hosted the games in 2014.
Ian Reid, CEO for Birmingham 2022, said: “The £778 million of public funding confirmed today not only covers our costs for delivering the Games but a portion of this money will be invested in a couple of our key venues, covering some of the costs relating to the redevelopment of the Alexander Stadium and the building of the brand new Sandwell Aquatics Centre.
“These projects and others, which will receive additional and accelerated funding because of the Games, will benefit the city and the region long after our closing ceremony on 7 August 2022.
“Having our budget confirmed is a key milestone for us and we can now look forward to delivering a fantastic Games for the people of Birmingham, the West Midlands and the country.”