The economic legacy of the 2022 Commonwealth Games in Birmingham is being targeted in a new business and tourism programme launched in the city today.
Business and civic leaders running the initiative say they hope it will generate more than £650 million in investment, £7 million in export deals and £12 million in visitor spend in the five years following next summer’s sporting festival.
Its core purpose is to promote trade, investment and tourism with the aim of creating more than 1,000 new jobs in the UK, of which 600 will be in the West Midlands, and bring an additional 39,000 visitors to the country.
The news comes as the city this week marks just one year to go until the games begins.
The programme will concentrate on nations and territories across the Commonwealth, plus the domestic UK market.
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It will run until the end of 2023, taking advantage of opportunities before, during and after the games, with planned activity including sales missions, showcase events, marketing campaigns and a media programme.
Targeted meetings with investors will also take place alongside cultural celebrations.
The programme’s trade and investment strands will focus on four key sectors – data-driven healthcare, creative technologies, future mobility and modern business services – as well as support sectors including e-commerce and the sports economy.
After the games finishes, it will concentrate on supporting businesses looking to locate here, confirming export contracts and securing capital investments.
Funding for the programme comes from central and local government, comprising £21.3 million announced in the 2020 Budget and a £2.6 million investment confirmed by the West Midlands Combined Authority last year.
There will be opportunities for private sector sponsorship.
It has been developed by a range of regional and national partners including the Department for Digital, Culture, Media & Sport, West Midlands Growth Company, the Department for International Trade and VisitBritain.
West Midlands Mayor Andy Street said: “The Commonwealth Games is a once-in-a-generation opportunity for the West Midlands and we absolutely have to make the most of it.
“Our business and tourism programme is therefore absolutely vital as it sets out how we plan to market our region to brand new audiences across the world, helping to attract more overseas investment.
“Generating this investment, alongside the tourism spend that will come from visitors, is key to our region’s recovery from the pandemic and will help to create much-needed local jobs for local people.”
Birmingham City Council leader Cllr Ian Ward added: “The Commonwealth Games is much more than 11 days of great sporting action and this programme will come as a timely post-pandemic boost for all sectors of our economy.
“We have so much to offer the world and, through this programme, we have a fantastic platform to showcase the talents of the people of Birmingham and show off our city to a global audience.”