Bankwest Stadium Parramatta generates millions into local economy
Call it Parra power — Bankwest Stadium is proving a moneymaker for the local economy and giving it a $1 million boost each time an event is staged there.
Parramatta
Don't miss out on the headlines from Parramatta . Followed categories will be added to My News.
Parramatta’s economy gets a million-dollar boost each time an event is held at the new $360 million Bankwest Stadium, a report shows.
Parramtta Council commissioned Micromex Research to undertake the economic analysis for the report, Bankwest Stadium – Bolstering the Local Economy, which revealed three sporting events at the stadium generated $2.92 million for the Parramatta area this year.
Parramatta Lord Mayor Bob Dwyer said the report showed the 530,000 patrons that had visited Bankwest Stadium this year were capitalising on restaurants, cafes or booking accommodation at local hotels.
“The new Bankwest Stadium has been a real game-changer for Sydney’s central city,’’ he said.
“Not only is it a world-class venue, it’s injecting millions of dollars into the local economy and attracting a new wave of visitors.”
The economic analysis was based on a survey of 609 spectators at one of three at-
capacity sporting events at Bankwest Stadium this year – the first NRL match between the Parramatta Eels and Wests Tigers in April, the NSW Waratahs v Brumbies Super Rugby match and the A-League pre-season friendly between Leeds United and Western Sydney Wanderers.
Respondents were asked how much they spent during their visit, including at the stadium and at local outlets; their transport method; and their impressions of Parramatta.
The research found that, over the three events, visitors spent about $1.27 million inside Bankwest Stadium and about $1.65 million in the Parramatta local government area.
It also found that 88 per cent of visitors said their visit to Bankwest Stadium positively influenced their perception of Parramatta; 96 per cent highly rated their experience of Bankwest Stadium; and 95 per cent highly rated their overall experience of the Parramatta region.
“About 57 per cent of the value was generated pre and post-match outside the stadium, in the Parramatta area which suggests the economic benefit of Bankwest Stadium for Parramatta
reaches beyond the stadium boundary,’’ the report said.
Of the patrons surveyed, 67 per cent were male and 74 per cent attended in groups of two to five people.
The research found that the average spend per group was higher outside the stadium ($117) than inside the venue ($90) for the three matches.
The survey also found 89 per cent of spectators lived outside the greater Parramatta area and 11 per cent indicated they were visiting the area for the first time.
Those who travelled by public transport were more likely to spend in Parramatta compared with those who drove to Bankwest Stadium.
Venues NSW CEO Paul Doorn said Bankwest Stadium was benefiting NSW not just western Sydney.
“Bankwest Stadium offers a spectacular visitor experience for the people of NSW and, whether it be sport, entertainment, business, community or cultural events, it is a place that everyone can enjoy,’’ he said.
IN OTHER NEWS
Parramatta Chamber of Commerce president Schon Condon said investment was critical infrastructure such as Bankwest Stadium has helped boost local businesses.
“Unquestionably, the opening of Bankwest Stadium has been a boon for Parramatta, providing incredible
financial benefits for local businesses, as well as providing valuable opportunities for Parramatta to truly
showcase what we can offer,’’ he said.
Apart from sporting fixtures, Bankwest Stadium will host headline acts Cold Chisel in January and Elton John in March.