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Originally Posted by chowhou
This is simply your own speculation. BC Stats has a basic guesstimate of what they think the economic benefit is, feel free to read it.
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Of course. Every major sporting event that wants government support produces a 'study', which promises economic benefits into the future. The one BC produced includes 'induced' benefits, which is a way of making the speculative benefits even greater.
It remains true that BC is spending $600m to promote an event organised by FIFA, who bring in many times that amount in sponsorship revenue. It seems strange that they expect public subsidy when they're so effective at raising funds from the private sector.
Some of the money BC is spending is investment in BC Place, so that's not a bad thing, although whether it would have been a priority for public spending without the matches is debatable.
Government subsidy to the Winter Olympics was obviously much greater, but the physical legacy was also much more - Hillcrest, the Convention Centre, the Sea-to-Sky improvements and the Canada Line. But in terms of economic impacts on tourism, it's worth quoting the post-games impact study published a few years later. "Visitors did not appear to stay longer or spend more money than usual during the event year".
I don't think there has been any attempt to estimate long term economic benefits that could be attributed to the games. Obviously the development of the Convention Centre will have had the most impact, but that could, and should have been built with or without the games. In terms of impact on the hotel sector, there are currently fewer hotel rooms in Vancouver now than there were when the Olympics were held.