SYDNEY 2000 AND BEIJING 2008

OLYMPIC ECONOMIC “LEGACY” PROGRAMS

 

Investment 2000, the business legacy program for the Sydney 2000 Olympic Games, was the most comprehensive program of its kind at that time.  It was demonstrably successful in achieving very significant economic benefits for Sydney and Australia.

The operating model it established became widely recognised as being world best practice.

Structure:

  • A private sector-led partnership with government.
  • A private company with four shareholders: Olympic Games sponsors Westpac Banking Corporation (Australia’s second largest bank) and Telstra Corporation (Australia’s major telecommunications provider), and both the Australian and New South Wales governments.
  • Officially endorsed by the Sydney Organising Committee of the Olympic Games (SOCOG).

Objectives

  • Attract new foreign direct investment to Australia above and beyond that which would occur anyway.
  • Reposition perceptions of Australia from a resource rich - but relatively small and isolated - economy to one that is increasingly an integral part of business “value chain” strategies for the Asia Pacific time zone.

Key outcomes (by December 2000)

  • 45 overseas companies committed to new direct investment in Australia, valued at $520m and creating over 1,200 new permanent jobs
  • A further 44 overseas companies actively exploring investment
  • Approximately 50% of investing companies were high technology companies, predominantly from the USA and Europe
  • Over 90% of foreign companies reported that their perceptions of Australia as a business location had favourably changed as a result of their involvement in the Investment 2000 program.

 

China Access 2008, the legacy program for Beijing 2008, built on the lessons learned - and the international networks created – by Investment 2000. It allowed China to re-position itself in the minds of the international business community in areas where it was relatively unknown at the time i.e. science and technology.

Structure

  • A private company with several major corporate sponsors.
  • Officially endorsed by the Peoples’ Government of Beijing Municipality.

Objectives

  • Expand the international profile of China’s growing capabilities in key growth industries of the 21st Century (especially the biosciences, non-carbon energy, environmental remediation and the creative industries).
  • Facilitate international business partnering in these industries.

Key outcomes (by September 2008)

  • Almost 100 new partnerships and formal business connections established between Chinese technology companies and research institutions, and their international counterparts.

Both Investment 2000 and China Access 2008 leveraged multiple private sector networks to connect with international businesses that otherwise may not have considered doing business with Australia/China.  Both programs operated separately to – but in parallel with – other Olympic initiatives undertaken by governments.  They generated very significant business benefits for the Olympic host countries and, typically, a return on investment to their sponsoring companies of around 300%.

 

Brazil Access will bring the lessons learned and other intellectual property generated by these initiatives to Brazil and create a similarly successful program for the Rio 2016 Olympic Games.Brazil Access will partner with selected Brazilian companies to develop a uniquely Brazilian legacy program. 

Working in partnership, Brazil Access will help Brazil capture the unique opportunity provided by the Olympic Games to make a demonstrable contribution to the nation's economic and social development.  Partner companies will also be exposed to the enormous commercial benefit of involvement in this important initiative.

 

Commercial Benefits for Partners

The highly successful business-led legacy programs conducted for the Sydney 2000 Olympic Games (Investment 2000) and the Beijing 2008 Olympic Games (China Access 2008) proved that such programs can yield very real commercial benefits for their sponsoring companies.

Investment 2000 and China Access 2008 were international business to business facilitation programs. They used the global focus provided by the Olympics to develop new business connection between the Olympic host countries and the rest of the world.

In doing so, they also acted as global marketing programs for their sponsoring companies, building new customer relationships and providing numerous strategic positioning opportunities.  They typically generated a return on investment of around 300% on the amount invested in the program.