Published on : Saturday, November 25, 2017
Today’s $2.3 billion announcement to knock down and rebuild both Sydney Olympic Park’s ANZ Stadium and Allianz’s Stadium at Moore Park will ensure Sydney can compete as a world class tourism destination, the Tourism & Transport Forum Australia (TTF) CEO Margy Osmond said today.
This critical investment into the tourism industry means NSW will be able to attract the best sporting and music events in the world, and combined with securing the NRL Grand Final for the next 25 years, is a massive boon for the NSW economy.
Tourism investment is important as it is worth over $33 billion a year to the NSW economy and directly supports over 164,000 jobs in areas like food and beverage, retail and accommodation. NSW was the largest contributor to tourism-generated tax in 2015-16 with $3.4 billion generated in direct and indirect taxes on the tourism industry. This tourism infrastructure investment will allow more tax revenue to be generated for Governments to spend on health and education.
“ANZ Stadium is already one of Australia’s premier venues, hosting iconic events like the Sydney Olympics, NRL Grand Finals, State of Origin, Bledisloe Cup, World Cup qualifiers, T20 cricket internationals and rock concerts featuring the world’s biggest acts,” Ms Osmond said.
“It’s also an economic asset for the state, which has generated billions in economic activity for NSW since its opening in 1999.
“The proposed ANZ Stadium upgrade and the new $300 million Parramatta Stadium will, when complete, deliver an enormous boost to Western Sydney’s visitor economy, with additional visitor expenditure supporting jobs in tourism and hospitality.
“TTF commends the NSW Government on its investment into critical tourism infrastructure that will keep Sydney internationally competitive in the tourism and major events space.”