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| The ski resort of Whistler will provide an ideal venue for the upcoming Winter Games in 2010. |
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Vancouver, consistently voted as one of the world’s most livable cities by the Economist Intelligence Unit, was very quiet during the early morning of July 2, 2003. Soon after, the entire city — along with much of the rest of Canada — erupted in celebration at the announcement that Vancouver-Whistler had beaten Pyeongchang, South Korea, to host the 2010 Winter Olympics.
‘‘It’s the second Canada Day in a row (referring to the national holiday held the previous day),’’ said John Furlong, who headed the bid and now is the CEO of the Vancouver Organizing Committee for the 2010 Olympic and Paralympic Winter Games (VANOC). ‘‘We’re going to party all night.’’
So, the Winter Olympics have finally come back to Canada — 22 years after Calgary hosted the Games in 1988.
Since then, the city has begun an ambitious effort to complete the infrastructure and venues needed for the 2010 Olympics, which have been dubbed by Furlong as ‘‘Canada’s Games.’’
Currently, there are expansion projects under way for Vancouver’s International Airport, and the province’s ‘‘Sea to Sky’’ highway, which connects Vancouver to the mountain resort of Whistler. There are also plans to expand the Vancouver Convention Centre.
In total, the city is investing more than $5.4 billion in the Olympics, ranging from construction and expansion of facilities, to overall operational expenses during the actual competitions.
The costs and effort are regarded as investments in the future of Vancouver and the surrounding Pacific Northwest region of North America. Studies on the economic impact of the Olympics on the region indicate positive results.
InterVISTAS Consulting, a private firm contracted by the province’s Ministry of Economic Development, estimates that the province’s GDP stands to gain about $2 billion directly because of the Winter Olympic Games.
The ministry also estimated that between 2008 and 2012, there will be an additional 1.1 million international visitors to British Columbia. These added visitors are estimated to spend an additional $1.5 billion in incremental spending over the same period.
Interestingly enough, one of the stated goals of VANOC is to learn from the past Olympic experiences of other cities. With that in mind, much emphasis has been placed on setting up a Vancouver-Whistler Olympics marketing program, similar to those of Salt Lake City, Atlanta and Sydney.
Those three cities experienced more than significant growth in tourism and investment after implementing their marketing programs.
Also, unlike some past Olympic cities, VANOC has encouraged close collaboration with the local business community in developing the city ahead of the Games. As a result, most of the sporting facilities and living quarters, at a cost of roughly $550 million, should be ready a year or two before the Games begin — a stark contrast to Athens 2004, where work continued right up to the last minute.
In preparation for the increased focus on British Columbia as an investment location in the years leading up to the Olympics, the province has created an organization to serve as the main vehicle to help all interested businesses.
The 2010 Commerce Centre was established to inform, educate and connect businesses to Olympic Games-related opportunities.
While it’s true that the Olympic Games will provide a psychological boost for the host city, and allow Vancouver and Canada to shine on the world’s stage in 2010, there is also a chance for major economic gains for the companies interested in investing in the Games.
For many Canadian companies especially, the Vancouver Olympics have become a part of their identity.
‘‘For them this is not so much about marketing rights and about exposure, and about ads in the paper. It’s about being recognized as companies that care about Canada. It’s about embracing the whole culture,’’ says Furlong.
www.2010commercecentre.gov.bc.ca
www.vancouver2010.com |