Commonwealth Games (CWG) 2010 is likely to result in an overall economic impact of $4,940 million on India's economic growth during the four-year period ending 2012, media reports say. CWG 2010 is likely to create an employment opportunity to about 24.70 lakh people.
It is almost three times as compared to Melbourne CWG's impact on Australian GDP in 2006, said the report citing a Games Organizing Committee document.
The 2002 Manchester CWG had an impact of about $3,400 million on Britain's GDP while the 2006 Melbourne CWG had an impact of $1,600 million on Australia's GDP.
While the report says the games would increase the standard of living with improved education standards, boosted sports activities and raised international recognition to the community, Hazard Centre, an NGO, says the people will have to pay a huge price for the development work.
A report titled 'Heritage Games' said that those countries which hosted events like Olympics, World Cup and Commonwealth Games have plunged into huge debt and suffered losses. The report also attributed the Athens Olympics held four years ago to the Greece economic crisis.
Earlier, the CWG organizing committee had set up a Commonwealth Business Club India (CBCI) in partnership with Federation of Indian Chambers of Commerce and Industry (FICCI) to encourage and support Indian business community's involvement in the marketing and promotion of Indian sports.
It was aimed to raise sports sponsorship and market India as a preferred business partner and destination across Commonwealth countries.
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