World-class stadiums are vital to Sydney’s ongoing economic success and future

THE Sydney economy accounts for more than 40 per cent of the nation’s economy and a big contributor to this success is our major events program. But Sydney has no automatic right to host major events which is why we need world-class stadiums.

NSW Minister for Sport Stuart Ayres at the time of his announcement on the future of some of Sydneys biggest stadiums. Picture: Richard Dobson

THIS week figures were released which showed the Sydney economy accounted for more than 40 per cent of the nation’s economy. A big contributor to this success is our major events program.

But Sydney has no automatic right to host major events. This is why other state governments across the country have spent billions of dollars developing their own world-class stadiums while NSW has stood still.

Just look at the recent Test match at the redeveloped Adelaide Oval, or next month’s one-day international at the new 60,000-seat, $1.6 billion stadium in Perth, which is already sold out.

Investment in the stadiums means we can compete on the world stage for events such as the FIFA Women’s World Cup, the Rugby World Cup, and keep Sydney as the No. 1 major events destination.

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While there has been plenty of argument about spending priorities, the paradox is that the economic activity that would be lost if we do not act now would mean less money would be available to spend on vital services such as health and education. While the NSW economy is strong, there will never be a better opportunity to make these investments.

Patricia Forsythe is executive director of the Sydney Business Chamber