The British Columbia government needed an estimate of the economic impacts funded could flow to British Columbia as a consequence of hosting the Games. The focus was on the incremental impact of spending by non-residents.
InterVISTAS updated an earlier 2002 study, reviewing and verifying the methodology and updating the model with new information. The study examined the impact of the Games themselves, along with the Vancouver Convention & Exhibition Centre and related construction. The study provided a range of estimated impacts based on different scenarios that varied depending on the amount of tourism generated.
Estimated impacts for the “medium-high scenario” are:
- $2.1 billion in direct GDP;
- $3.3 billion in total GDP, including potential multiplier impacts.
Employment impacts are the creation of 55,000 direct person years of employment and 77,000 total person years. Our results were validated independently by PriceWaterhouseCoopers.