The Cricket World Cup is set to bring £32.1m into Birmingham when the city hosts some of the matches this summer.
Birmingham’s Edgbaston Stadium will host five of the international clashes, including the eagerly awaited England vs India match and a day of celebration for UNICEF’s #OneDay4Children campaign. Spectators from all around the world will be travelling to the stadium to witness events across June and July, drawing large amounts of tourists to Birmingham and the surrounding areas.
A report from the England and Wales Cricket Board considered all the possible boosts to the economy as a result of the matches and concluded that the projected revenue could exceed £32.1m. Contributing factors to this revenue would include ticket sales, food and drink sales, retail and merchandise sales, as well as usage of hotel and leisure facilities as a result of the games.
Nicola Hewitt, the Commercial Director for the West Midlands Growth Company, said of the event:
“Sport plays a hugely significant role in drawing record numbers of domestic and international visitors to the West Midlands, boosting the region’s economy […] It also brings Birmingham firmly to the attention of worldwide investors […] helping new and existing business across our patch grow.”
In 2022, Birmingham is also set to receive a significant boost to the local economy when it hosts the 2022 Commonwealth Games. £600m is being invested into the city to support the games, with a total of £1bn in revenue expected to be generated as a result of the city hosting. Of this, £500m is already expected to be re-invested into Birmingham to help support local business growth, schools and sports programmes in the city.
As one of the fastest growing cities in the UK, Birmingham continues to go from strength to strength. With a rising international profile and continued investment in the city, smart investors are looking for the best ways to capitalise on this success. Our Park Gate development offers investors a great opportunity to invest in a high-growth area of Birmingham, in close proximity to both the city centre and Birmingham Airport hub. With prices starting from £130,000 and 6% rental yields, the development is in a prime location to make the most of the excellent transport links in the area, business expansion, and development of the HS2 site.
To find out more about investment opportunities in Park Gate, or to find out more about why you should invest in Birmingham property, get in touch with a member of the team today.
Alliance Investments, 21/Floor, The Centrium
60 Wyndham Street, Central, Hong Kong