THE Gold Coast Central Chamber of Commerce had admitted that while the Games have provided an economic boost to “some” businesses in the city, the benefits are yet to be seen in the retail and hospitality industries.
Gold Coast President Martin Hall said while the city’s Central Chamber of Commerce was “very supportive” of the Games and there had been “some big winners”, there were “some others” who were being left “disappointed”.
“During the Games themselves, the impact of the Games on the Gold Coast will be patchy,” Mr Hall said in statement on Tuesday.
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“Based on previous Games, including London and Glasgow, some businesses will not perform as well as they might hope.
“We had expected the Games to provide an economic boost [but] for retailers and the hospitality industry, this is yet to be evidenced.
“This is because regular customers may want to avoid the crowds, people are being warned against travelling on the roads or because a percentage of residents have left the city during the games.”
Mr Hall said businesses in key tourism spots, particularly the hospitality industry, were “not doing as well as expected”.
Retailers at local shopping centres are doing “reasonably well”, he added, while the smaller retailers near transport hubs being used for the Games were reporting the best turnouts.
Mr Hall said it was important to remember that the Commonwealth Games had already provided a significant boost to the Gold Coast economy.
“This is reflected by the low unemployment rate, strong levels of business confidence and strong property price growth,” he said.
“This has been fuelled by the construction of the infrastructure needed for the Games.”
Mr Hall said the exposure of and the legacy of the Games will benefit the Gold Coast “for years to come”.
“From the Chamber’s point of view, we are emphasising that the Gold Coast is well and truly open for business,” Mr Hall said.
“And we are encouraging locals and visitors alike to make sure they take time to celebrate the Games.”