Businesses in New South Wales won A$1bn worth of contracts from the Sydney games and an additional A$300mn was generated by local business. Over 55,000 people received employment related training. If London hosted the Olympic games, thousands of UK firms could be involved in supplying everything from construction to manufacturing, catering to merchandise.
Boost to tourism
The tourist industry won't just boom during the four weeks that the Olympic and Paralympic games actually take place, but for months and years before and after the event.
Price Waterhouse Coopers believe the Sydney games gave Brand Australia A$6.1bn worth of additional publicity and over A$6bn worth of spending from 1.6m visitors between 1997 and 2001. Between 1993 and 1996, after Sydney had been named as the host city for 2000, its convention and exhibition sector grew with the number of international visitors increasing by 78%.
Olympic Villages, will provide market and affordable housing units after the Games are complete.
INCREMENTAL PUBLIC REVENUES
An economic study of the financial impact of the 2010 Olympic projects in combination with the expanded Convention Centre reports incremental tax contributions − largely from tourism, hospitality and conventions − of nearly $2.5 billion over 20 years.
GLOBAL PROMOTIONAL EXPOSURE
Analysts have concluded that, as host of the 2000 Olympics, Sydney received $6 billion in free publicity − essentially a $6 billion glo...
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...en in construction jobs at Olympic venues.
The 1996 Games also play an important role in securing grants for community projects from private, state, and federal sources. The $100 million federal "empowerment grant" is an example. During President Clinton's speech at ACOG, he noted that the 1996 Games was a critical factor in distinguishing the City of Atlanta from other applicants for the empowerment zone grant. Additional examples include the Atlanta Regional Commission's approval of $19 million for design and construction of pedestrian walkways in the central city and the Atlanta University Center area, Congressional approval of $11 million for improvements at the Martin Luther King, Jr. Historical Site, and grants from the Federal Transportation Administration to MARTA. Additionally, the Olympics has generated a wide range of cultural and youth-oriented programs.
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