The Commonwealth Games Advantage – What’s Expected for Birmingham

Posted by Hauskey UK on 5th August 2022 -

The Commonwealth Games is currently taking place in Birmingham. It will deliver 11 days packed of sport and at least 5,054 athletes from 72 Commonwealth nations to this thriving UK city.

This prestigious sporting event has been a major catalyst for Birmingham. Driving significant economic growth and long-term economic and social benefits. The impact of the Games is expected to continue for the city for many years following.

As the Games shines a spotlight on this leading UK investment market, what are the expected long- term benefits for Birmingham and the wider region?

How does the Commonwealth Games benefit host cities?

Hosting the Games has a track record of boosting local, regional and national GDP. Along with improving the economy, according to the Commonwealth Games Federation.

The Games can come with as much as £1 billion economic benefit. According to a report published by the Commonwealth Games Federation, the event has previously provided an economic boost between £800 million and £1.2 million.

The last Commonwealth Games was held in 2018 on the Gold Coast of Australia. This delivered the biggest economic uplift with a boost of £1.2 billion.

Closely followed by £1.1 billion for Manchester in 2002, £1 billion for Melbourne in 2006 and £800 million for Glasgow in 2014.

Local residents also benefit, with upgrades to existing infrastructure and new facilities built for the games. These then go on to become legacy venues for the public and local communities to enjoy.

£778m investment to regenerate Birmingham and the West Midlands

Birmingham and the West Midlands region has benefited from £778 million worth of investment to stage the 2022 Commonwealth Games. The public funding has helped to drive regeneration across the region, including upgrading and building new sport venues.

The Alexander Stadium has undergone a £72 million transformation. A new aquatics centre has also been

built which will then open to the public in 2023.

Birmingham 2022 has opened up a wealth of opportunities. These include increased business and trade deals, cultural engagement, jobs and skills, education and tourism.

Birmingham - a property investment hotspot

Birmingham and the surrounding area is already a popular place to invest in property. This growing city has already benefited from significant regeneration. Something which is only set to continue, attracting more residents and businesses to the city.

As more businesses continue to relocate to Birmingham, more professionals continue to move to the city. This provides an ideal opportunity for landlords and the city’s rental sector.

Hauskey UK has numerous property investment opportunities available across Birmingham. To find

out more, get in touch or register here for our property email updates.