No ROI in hosting Commonwealth Games, says Khairy

 

Former youth and sports minister Khairy Jamaluddin said it would cost Malaysia more than the RM600 million incentive it would receive from the Commonwealth Games Federation to host the 2026 edition of the games.

PETALING JAYA: There may be no return on investment (ROI) for Malaysia if it hosts the 2026 Commonwealth Games, former youth and sports minister Khairy Jamaluddin said, agreeing with the government’s decision not to host the event.

He said despite the Commonwealth Games Federation offering a boost of 100 million pounds (about RM600 million) to host the event, the actual outlay would be much higher.

Khairy also said two years would not be enough time to prepare.

“It will cost more than that. The 2017 Southeast Asian (SEA) Games cost us about RM500 million. That was the 2017 price and I had four to five years to prepare for it.

“We will be hosting the SEA Games next year. Then the Commonwealth Games? That is over the top.

“It has to bring commensurate returns and the Commonwealth Games will not likely bring in a fitting ROI,” he said in his Keluar Sekejap podcast.

Khairy said the returns would be incomparable to the sum Singapore made through its exclusive regional hosting rights for Taylor Swift’s concerts.

He said the government had “read the mood” of the rakyat by declining the offer to host the games.

At a time of subsidy cuts, Khairy said, it was best for the government to focus on boosting the economy.

“Singapore hosted six Taylor Swift concerts, monetised them. We must find commercial opportunities. If not her, maybe something that is acceptable to PAS, which might not be a lot,” he said.

Malaysia rejected the offer to hold the 2026 Games due to time constraints, costs and an offer of funding that came in below expectations, it was reported.

Malaysia was asked to step in after the Australian state of Victoria withdrew.

Khairy said at a time when the ringgit was weak against the US dollar, there should be a focus on ramping up exports and tourism.

Podcast co-host Shahril Hamdan said the government did not appear to be doing much to boost tourism, barring making “out of portfolio” statements.

He said the government seemed content in peddling huge tourism numbers, which he added was inclusive of Singaporeans making quick jaunts to Johor and back.

“Singaporeans are not quality tourists who would stay and spend money to stay at hotels in Malaysia.

“These are not the quality tourists Thailand is welcoming, where they spend more,” he said.

“Instead of thumping their chests with numbers, the tourism ministry should take a look at the reality,” he said. - FMT