PWC states that British Columbia benefited from Vancouver 2010 Winter Olympics
A recent report on Vancouver’s 2010 Winter Olympics was released by PriceWaterhouseCooper, which is a well known consulting firm. According to the report, the Olympic Games contributed to the economy of the Canadian city considerably.
The report states in clear words that the Games conducted in the city lead to a significant increase of social as well as economic benefits in British Columbia.
The Finance Minister, Kevin Falcon, expressed himself in the following manner about the impact that the Olympic Games created in British Columbia: "In the lead up to the Olympics, as you know, we were in the midst of a global economic meltdown and 2009 was
a very ugly year around the world, but British Columbia got the benefit of all that increased tourism and spending that took place."
This fact was highlighted in the report in the following manner: "The 2010 Winter Games took place in the midst of a prolonged downward trend of international visitors due to the lingering effects of a global recession and a high Canadian dollar. Even so,
the number of visitors to B.C. in February 2010 increased significantly."
A lot of money was injected into the economy of the city because of the venue construction at the start of the Olympic Games. A total of $ 1.26 million was flowed into the economy as a result of which positive impacts could be felt on several industries.
Particularly, the tourism industry benefited a lot from the advent of the Olympic Games in British Columbia. In all, it was able to generate an increased amount of revenue that totalled to be $ 226 million.
The upcoming Olympic Games are scheduled to take place in London in 2012. The capital of England will be acting as host to the event for the third time. After having successfully hosted the occasion for three times in its history, London will become the
first city in the world to have welcomed the Olympic Games for the third time. The city of London is also expecting to be benefited from the arrival of the Games on its soil.
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