If it also gives you the bonus of Gold status when you hit $30K a year, that will be good.
Having said that, what does Gold status get you? Additional points when you stay at an SPG property? Some chance at free upgrades?
late checkout (4pm), triple points on stays. I have always been given a better room (better view, corner, sometimes suites) with my Gold Status.
I have a US SPG AMex and I think the fee is $40.