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Joint Canada-British Columbia Socio-Economic Impact Study of the 2010 Olympic and Paralympic Winter Games
Background
- The governments of Canada and British Columbia (through each government’s respective 2010 Secretariat) have jointly commissioned a longitudinal study of the socio-economic impacts of hosting the Vancouver 2010 Olympic and Paralympic Winter Games. This study will assist both governments in measuring the impact of 2010 investments, as well as other results achieved through Canada’s and British Columbia’s hosting of the 2010 Winter Games.
- The study, which runs over five years, will examine eight topic areas: economic development, business development, employment, social development, environmental sustainability, arts and culture, sport development, and tourism. Aboriginal participation will also be examined as a special area of focus within each topic area.
- PricewaterhouseCoopers (PwC) has been commissioned to carry out the study. The firm will produce a series of annual reports, along with the final report. Prior to beginning work on the data reports, a framework report was delivered in March 2009. This report outlines the economic and social indicators to be examined, as well as the methodologies to be used in collecting data for the study.
Highlights from the 2003-2008 period
Economic development, business development, and employment
- From 2003 to 2008, the 2010 Winter Games are estimated to have generated up to 20 780 jobs in British Columbia and another 1 750 jobs across Canada through interprovincial trade.
- It is also estimated that from 2003 to 2008, the 2010 Winter Games generated between $70.2 and $91.9 million in federal tax revenues, and as much as $1.05 billion in real GDP ($884 million in British Columbia and $170 million in the rest of Canada).
- From 2003 to 2008, $54 million in venue construction contracts were awarded to self-identified Aboriginal businesses. An additional $776,000 in non-venue contracts was awarded to Aboriginal business during the same period.
Sport development
- From 2003 to 2008, Canada improved its winter sport ranking on the International World Olympic Sport Index (from 4th place to 2nd place).
- During this period, Sport Canada also supported the hosting of 80 percent more international events.
Sustainability
- Venues and villages constructed for the 2010 Winter Games are being built to some of the highest standards in environmental and energy efficient design. Eight of nine of the event venues and/or villages applied for independent certification under the LEED green building rating system.
- Many new innovations in building design and construction have been introduced at event venues and villages, including on-site composting for green site material (Whistler Olympic Park); consumption monitoring, solar recovery, and waste-heat harvesting technology (Vancouver Olympic and Paralympic Village); and a one-of-a-kind “wood wave” roof design using wood affected by the mountain pine beetle infestation in British Columbia (Richmond Oval).
Other findings
- From 2003 to 2008, much of the activity related to social development involved the development of sustainable inner-city purchasing programming.
- Canadian tourism marketing organizations demonstrated a strong desire to work collaboratively.
- In 2008, impacts related to arts and culture became more evident as a result of funding for cultural programming and the first year of the Cultural Olympiad.
Looking forward
- While the current economic climate may have an impact on Games-related activities, PwC anticipates that 2009 will be an important year. PwC anticipates that podium finishes by Canadian athletes will continue to increase. In addition, Canada’s tourism industry should begin to see increased levels of activity as a result of the 2010 Winter Games.
Note:
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