No

Dr Kath Ringwald, of senior lecturer at the Faculty of Business and Society, University of South Wales

I don’t think there is going to be much of a lasting legacy, especially with the locals, especially at the summit is already getting on their nerves before it has even started.

There will obviously be an economic benefit while all the delegates and press are here and that can only be a good thing for the area.

For example, the refectory at the university in Treforest is feeding 700 police officers every day while they are here for the summit and all sorts of organisations will be benefitting like this across the area. But three weeks down the line, will anyone here be benefitting? I don’t think so.

But, like the Ryder Cup which was staged in 2010 at the Celtic Manor Resort, it will do well for the resort because people will associate the venue with hosting a big event.

Looking back at the impact of the Ryder Cup, studies were done afterwards which claimed millions of pounds of additional money coming into the area when it was staged.

But the on-going impact of staging something like the Ryder Cup only comes if you can attach your city brand to it.

The best example was with Sydney Olympics. People watched the games, saw the fantastic images of the city and thought they would like to go and visit. The didn’t happen four years later during the Athens Olympics. Then, the organisers made all sorts of mistakes.

So, the only really longlasting benefit once the event has gone is if it says something in the longer term about the city. I don’t think that happened with the Ryder Cup and Newport. With Cardiff so close, Newport is often seen as the second city, if not the third behind Swansea.

By the time the Ryder Cup arrived, the recession had already hit quite hard and Newport suffered badly with that. And also the weather was awful during the Ryder Cup and the images being beamed around the world were mainly of it raining.

But while the Ryder Cup didn’t leave that much of a legacy for it’s host city, it certainly put the Celtic Manor Resort on the map and the summit this week is a consequence of that.

To make a real impact on the city and surrounding area, you would have to stage an event like this every year.

Before all the publicity surround the Nato Summit coming to Newport, could you say where the last one was held?

In 1998 a big political event was held in Cardiff with heads of state from around the world which was opened by the Queen and had Nelson Mandela in attendance as guest of honour. That night on the national news it was the third story – behind Ginger Spice leaving the Spice Girls and Paul Gascoigne crying during a football match. We were just not excited about heads of government being here.

The eyes of the world will be on Newport and South Wales this week and if the images coming out are positive, there will be a short-term benefit, which will be good.

So, how will the local business scene benefit?

I don’t know how much of an opportunity the business community had to get involved with the opportunities something like this summit might present. It the area can show that we can handle events of this importance and size it opens up all sorts of possibilities.

We want to raise the profile of a city like Newport and this can only be a good thing for helping to do that. But it is not everything.

Will people remember in a few years where the Nato Summit was held in 2014? It is not an event which will engage the general public like something like a huge sporting event will.

Yes

John Union, Head of Corporate Banking for Barclays Wales Region

.

Hosting the 2014 Nato Summit in Newport puts the area firmly at the centre of the world stage and proves that Wales has the ambition, confidence and competence to host an international event of this significance.

For the days of the summit itself and in the build-up to the event, the local and regional economy will benefit directly.

With more than 5,000 visitors expected, hotels, restaurants and the hospitality industry can look forward to a tangible short-term boost.

While this direct benefit may only apply to a small percentage of Welsh businesses, the long-term economic benefits will be more profound and apply to a much greater number of companies in the region.

Hosting such a prestigious event will give global corporates the confidence that Wales is a country worthy of serious consideration when it comes to inward investment. There will also be a fantastic opportunity for Welsh businesses to showcase their skills at an investment forum scheduled as a follow-up to the summit, which will also take place at the Celtic Manor in November.

I believe that hosting the NATO Summit offers Wales a unique opportunity to prove it is a nation that can deliver. A successful summit will create direct and indirect business opportunities for Welsh companies for many years to come. I look forward to supporting these companies and helping them make the most of those opportunities.