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Study reveals multi-million dollar benefits of Bankwest Stadium

Study reveals multi-million dollar benefits of Bankwest Stadium
October 22, 2019

According to a report commissioned by City of Parramatta Council, Parramatta’s local economy gets a million-dollar boost every time an event is held at the new Bankwest Stadium.

Economic analysis was undertaken by Micromex Research, Bankwest Stadium – Bolstering the local economy, revealed three sporting events at the stadium generated an estimated total of $2.92 million for the Parramatta Local Government Area (LGA) this year.

City of Parramatta Lord Mayor Cr Bob Dwyer advised: “The new Bankwest Stadium has been a real game-changer for Sydney’s Central City. 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.

“This report shows people heading to Bankwest Stadium are really making the most of their visit to Parramatta, whether it’s enjoying a meal at one of the City’s many fantastic restaurants and cafes or booking accommodation at local hotels.”

The economic analysis was based on a survey of more than 600 people who attended one of three at-capacity sporting events at Bankwest Stadium this year – a NSW Waratahs v Brumbies Super Rugby match, a Parramatta Eels v Wests Tigers NRL game, 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 an estimated $1.27 million inside Bankwest Stadium and an estimated $1.65 million in the Parramatta LGA.

It also found that 88% of visitors said their visit to Bankwest Stadium positively influenced their perception of Parramatta; 96% highly rated their experience of Bankwest Stadium, and 95% highly rated their overall experience of the Parramatta LGA.

Venues NSW Chief Executive Paul Doorn noted that Bankwest Stadium is not just benefiting Western Sydney, but much of NSW: “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. These results confirm the positive contribution that Bankwest Stadium is already making to the liveability of Western Sydney, as well as the local and greater NSW economy.”

Parramatta Chamber of Commerce President Schon Condon added that investment in 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. The real joy, however, is that there is still more to come!”

The $360 million Bankwest Stadium has attracted about 450,000 patrons to ticketed events, and about 27,000 visitors to functions, conferences, meetings and other events, since it opened in April 2019. The state-of-the-art stadium is the home to sporting clubs the Parramatta Eels and Western Sydney Wanderers, and is set to host some of the world’s biggest entertainers, such as Elton John.

Council is exploring ways to grow the Parramatta LGA’s night-time offerings, and attract new and diverse businesses and visitors, with the release of its draft Parramatta Night City Framework 2020-2024. It is on public exhibition until Monday 11th November 2019.

Related Articles

18th October 2019 - NRL 9s commits to reusable beverage cup at Bankwest Stadium

3rd October 2019 - New ASM Global expands operations in Australia

18th July 2019 - Fans to get free public transport to Bankwest Stadium for first Wanderers game

31st May 2019 - Bankwest Stadium launches App and Rewards Program

24th May 2019 - Bankwest Stadium to host revived Ticketing Professionals Australia Conference

22nd May 2019 - Facilities First named as Bankwest Stadium cleaning services provider

23rd April 2019 - Sydney’s Bankwest Stadium hosts ‘game changing’ first sporting fixture

15th April 2019 - Sydney’s Bankwest Stadium gets community opening

10th April 2019 - Fans to get free travel to all NRL games at Sydney’s Bankwest Stadium 

29th March 2019 - Bankwest Stadium joins the Ticketek network

18th March 2019 - Sydney’s Bankwest Stadium to open with 14th April community day

26th February 2019 - Western Sydney Wanderers agree long-term tenancy at Bankwest Stadium

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