Independent media needs you. Join the Tyee.

The Hook: Political news, freshly caught

Olympic economic boost smaller than pre-games promise

Pricewaterhouse Coopers today released the seventh in a series of reports on the impacts of the 2010 Winter Olympic Games, again showing the promised boost to British Columbia's GDP is yet to materialize.

The report, which notes that Canadians won more medals than ever before and that the games were viewed by a record number of people, says the games gave a $2.3 billion lift to the provincial economy between 2003 and the end of 2010.

That figure is in line with previous PwC reports, and remains well short of pre-games estimates.

"The total economic impact, once the games are done, has been projected by independent sources to be as much as $10 billion," then B.C. Finance Minister Colin Hansen said on Feb. 17, 2009 as he delivered that year's budget, three months ahead of the provincial election.

That figure was down slightly from the $10.7 billion the government had previously promoted on its website.

The Tyee reported in Nov. 2009 that the government had again quietly downgraded its estimate to $4 billion, a number that removed the convention centre from the calculation but assumed a big boost in tourist visits resulting from the games.

VANOC spent a budget of about $1.8884 billion, the PwC report says.

A University of B.C. study released earlier this week says that on top of VANOC's operating budget, the B.C. and Canadian governments spent $603 million on venue construction.

Andrew MacLeod is The Tyee’s Legislative Bureau Chief in Victoria. Reach him here.

What have we missed? What do you think? We want to know. Comment below. Keep in mind:


  • Verify facts, debunk rumours
  • Add context and background
  • Spot typos and logical fallacies
  • Highlight reporting blind spots
  • Ignore trolls
  • Treat all with respect and curiosity
  • Connect with each other

Do not:

  • Use sexist, classist, racist or homophobic language
  • Libel or defame
  • Bully or troll
  • Troll patrol. Instead, flag suspect activity.
comments powered by Disqus