Vancouver Winter Games brings 1 bln Canadian dollars to economy: report
www.chinaview.cn 2009-11-06 12:31:06   Print

    VANCOUVER, Nov. 5 (Xinhua) -- The Vancouver 2010 Winter Olympic Games, about 100 days to go, have already generated about one billion Canadian dollars (936 million U.S. dollars) for the economy, according to an independent report released on Thursday.

    The report, prepared by PriceWaterhouse Coopers, one of the world's largest professional services firms, examined the economic effects the Games brought to the province of British Columbia and elsewhere of Canada from 2003, when the city of Vancouer won the bid, to 2008.

    It estimated that preparations for the Games generated between 684 million and 884 million Canadian dollars (640 million and 827 million U.S. dollars) in GDP for B.C. as well as an additional 170million Canadian dollars (159 million U.S. dollars) in other provinces across the country.

    It found that during the period of six years, the Games helped to create more than 20,000 jobs in B.C. and about 800 new businesses.

    But in looking at the benefits of the Games, the report does not consider the estimated 1.6 billion Canadian dollars (1.5 billion U.S. dollars) spent on venue construction and other Games-related costs over the same time, making it difficult to determine the true overall situation.

    Ed Mansfield, Pricewaterhouse Coopers associate partner, said it was too early to draw definitive conclusions about the overall Games, but the report shows things are tracking the early projections, which estimated the Games would ultimately generate between 2 billion and 4.2 billion Canadian dollars (1.87 billion and 3.93 billion U.S. dollars) in GDP.

Editor: Deng Shasha
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