Bulli Tops could become the jumping off point for a new bungee facility under a new tourism plan, which has also proposed linking the Southern Gateway Centre and Panorama House via a zipline.
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The two adventure tourism projects, which could help boost low visitation at Wollongong City Council's Bulli Tops site, would cost about $7 million, according to Destination Wollongong's destination development plan.
The bungee jumping and zip wire would boost the local economy by about $9 million a year and attract more than 30,000 visitors, the document said.
Destination Wollongong chief Mark Sleigh said the two attractions would cement Wollongong as an "adventure playground".
"We already have Skydive the Beach and people coming here who are into that adrenalin activity so we want to create as many activities as possible in this wider precinct," he said.
"It would be fantastic if someone was coming down from Sydney to do a sky jump and then stayed overnight to go bungee jumping the next day."
Mr Sleigh said Destination Wollongong and the Property Council were planning to meet a Singaporean investor on Friday who had built a zipline on Sentosa Island.
He noted bungee jumping was not currently legal in NSW, but hoped the state would adopt a new Australian Standard used in six states and New Zealand.
