Positive Effects of the Olympic Games

Topics: Summer Olympic Games, Olympic Games, 1996 Summer Olympics Pages: 6 (2029 words) Published: December 18, 2007
Business opportunities for companies
Businesses in New South Wales won A$1bn worth of contracts from the Sydney games and an additional A$300mn was generated by local business. Over 55,000 people received employment related training. If London hosted the Olympic games, thousands of UK firms could be involved in supplying everything from construction to manufacturing, catering to merchandise. (http://www.sportengland.org/2012_uk.htm)

Boost to tourism
The tourist industry won't just boom during the four weeks that the Olympic and Paralympic games actually take place, but for months and years before and after the event. Price Waterhouse Coopers believe the Sydney games gave Brand Australia A$6.1bn worth of additional publicity and over A$6bn worth of spending from 1.6m visitors between 1997 and 2001. Between 1993 and 1996, after Sydney had been named as the host city for 2000, its convention and exhibition sector grew with the number of international visitors increasing by 78%. (http://www.sportengland.org/2012_uk.htm)

Olympic Villages, will provide market and affordable housing units after the Games are complete. (http://www.wastebuster.gov.bc.ca/popt/olympic_benefits_bg.pdf)

An economic study of the financial impact of the 2010 Olympic projects in combination with the expanded Convention Centre reports incremental tax contributions − largely from tourism, hospitality and conventions − of nearly $2.5 billion over 20 years. (http://www.wastebuster.gov.bc.ca/popt/olympic_benefits_bg.pdf)

Analysts have concluded that, as host of the 2000 Olympics, Sydney received $6 billion in free publicity − essentially a $6 billion global advertising campaign for Australia tourism, at no cost. Vancouver and British Columbia tourism, small business and companies in emerging industries would receive similar world-wide exposure. (http://www.wastebuster.gov.bc.ca/popt/olympic_benefits_bg.pdf)

With the incremental tax dollars generated by the Games and related activity, the province will have the financial ability to fund important social programs and crucial public services like health care and education. (http://www.wastebuster.gov.bc.ca/popt/olympic_benefits_bg.pdf)

If Vancouver wins the right to host the Games, the province has pledged a total of $310 million over six years to fund the necessary facilities for the Games. This investment is matched by $310 million from the federal government to cover the cost of construction of new athletic facilities such as a speed skating complex at SFU, hockey arena at UBC and Olympic Villages, as well as upgrading existing facilities to world-class standards. Included in this investment are $110 million in legacy funds to allow the facilities to be maintained and operated for public use after the Games, at no additional cost to the community. The 2010 Olympic Games are fully supported by the provincial and federal governments and private sector. The costs of the investment are shared, and so are the benefits – by the entire province and country. (http://www.wastebuster.gov.bc.ca/popt/olympic_benefits_bg.pdf)

Tourism and Retail –
The Games provided enormous benefit to Australia's tourism and retail sectors. Highlights in relation to tourism and retail include: - the Games' generation of up to $6.1 billion worth of international publicity, - over $6 billion in spending by an additional 1.6 million visitors during 2001, - the Sydney Convention and Visitors Bureau's (SCVB) success in winning 210 events between 1993 and Games time, attracting more than 250,000 delegates and injecting more than $1 billion into Sydney's economy, - in addition, $203 million from projected business events committed since October 2000, - the attraction of more than 110,000 Games-time specific international visitors, - a substantial improvement in international perceptions of...
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