VANCOUVER, November 5, 2009 - The Honourable Gary Lunn, Minister of State (Sport), and B.C. Minister of State for the Olympics and ActNow BC, Mary McNeil, are pleased to announce the results of the Socio-economic Impact Study conducted by PricewaterhouseCoopers. The report points to wide-ranging positive social and economic impacts for British Columbia and Canada from the planning and hosting of the Vancouver 2010 Olympic and Paralympic Winter Games
The report covered the period of 2003 to 2008, and positive impacts were recorded in all eight areas studied. The greatest impacts occurred in employment, where more than 22,000 jobs were created; sport development, where our athletes have improved tremendously; environmental sustainability; and arts and culture. The PricewaterhouseCoopers report is part of a series commissioned by the governments of Canada and British Columbia to measure social and economic impacts of the Games.
In addition, from 2003 to 2008, the Games generated between $684 million and $884 million in real gross domestic product (GDP) to B.C. and an additional $170 million in real GDP to Canada.
"While this is just a snapshot of what has already happened, the report provides concrete evidence that the Games have given the B.C. and Canadian economies a boost," said Minister of State Lunn. "Our investments are achieving their intended results, including improved athlete performance in international competition, made-in-Canada innovations in building design, and unprecedented Aboriginal participation."
The findings of this report also demonstrate that our investments in sport are achieving the intended results. Our winter athletes are reaching new heights in performance and medal finishes.
"We've always believed that the Games would provide the catalyst for economic, social, and athletic development provincially and nationally," said Minister of State McNeil. "These results are just the beginning, and we know that once we start to measure 2009 and 2010, we'll see that British Columbia is continuing to get a powerful economic lift from the Games just when we need it most."
The report found that investments have produced up to 20,780 jobs in B.C. so far and a further 1,750 jobs across Canada through interprovincial trade.
"We believe that this comprehensive study of an Olympic and Paralympic Winter Games during a five-year period prior to the event is unprecedented," said Ed Mansfield, Associate Partner and leader of PwC's Economics and Statistics practice in Canada. "The study findings are based on interviews and inputs from a wide cross-section of organizations and communities in B.C. and Canada plus data analysis and economic modelling."
Over 800 new businesses were created as a result of the incremental economic growth stimulated by the Games. Approximately $54 million in venue construction contracts were awarded to self-identified Aboriginal businesses between September 2003 and July 2008.
The report also noted that significant innovations were introduced in environmental building design and construction as a result of hosting the Games.
PwC will monitor the impact of the Games over a five-year period from 2008 to 2013. It has previously produced studies on the Sydney 2000 Summer Games and the London 2012 Summer Games.
See attached backgrounder for additional information. Electronic copies of the report are available at www.2010wintergamessecretariat.com/About/Publications.aspx.
For more information (media only), please contact:
Office of the Honourable Gary Lunn, P.C., M.P.
Minister of State (Sport)
819-934-1122
Media Relations
Canadian Heritage
819-994-9101 1-866-569-6155
media@pch.gc.ca
Greg Dickson
2010 Olympic and Paralympic Winter Games Secretariat (BC)
604-660-2923
Jim Nelson
Media Relations
PricewaterhouseCoopers LLP
604-806-7047
jim.nelson@ca.pwc.com
BACKGROUNDER
2010 Socio-economic Impact Study
The Government of Canada and the Government of British Columbia (through their respective 2010 Winter Games secretariats) have jointly commissioned an independent study of the direct and indirect impacts of hosting the Vancouver 2010 Olympic and Paralympic Winter Games (the Games). This study will report on the impacts experienced in key topic areas during the period from 2003 to 2008.
PricewaterhouseCoopers (PwC) has been undertaking this work, providing research and benchmarking services, and developing a series of reports outlining the results analysis. A Framework Report (Report #1) has been developed to outline the economic and social indicators to be examined, as well as methodologies to be used in collecting data for the study. Earlier this year, PwC also developed a summary report (Report #2) outlining preliminary results for the 2003 to 2007 time-period.
The reports are being released beginning in 2009. A final report summarizing the complete results of the study will be available in 2013. Each data report, along with the final report 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.
This study will be among the most thorough and comprehensive of its kind and will assess and measure the economic and social impacts that result from hosting the Games. The study will serve as a legacy to future hosts of Olympic and Paralympic Games and other major international events.
The 2010 Olympic and Paralympic Winter Games Federal Secretariat (Federal Secretariat)
The Federal Secretariat, a division of the Department of Canadian Heritage, is the focal point for the Government of Canada's participation in the Games. The Federal Secretariat pursues activities to foster positive domestic and international exposure to help make these "Canada's Games," to globally position Canada as a country of excellence and innovation, and to ensure that the Games leave sustainable social, cultural, economic, and sport opportunities and legacies for all Canadians. The Government of Canada's total commitment to the Games is $1.23 billion.
The B.C. 2010 Olympic and Paralympic Winter Games Secretariat
Working within the Ministry of Healthy Living and Sport, the British Columbia 2010 Olympic and Paralympic Winter Games Secretariat (B.C. Secretariat) is the provincial agency responsible for overseeing British Columbia's Winter Games financial commitments and ensuring our Olympic vision is achieved. The primary role of the B.C. Secretariat is to provide the strategic leadership, coordination, and oversight to ensure the Province meets its financial infrastructure and service commitments. The Province has committed $600 million to the Games' venue construction, endowments and legacies.
PricewaterhouseCoopers
PricewaterhouseCoopers (www.pwc.com) provides industry-focused business advisory, assurance, and tax services to governments, public and privately-owned organizations, and their stakeholders. In Canada, PricewaterhouseCoopers LLP (www.pwc.com/ca) and its related entities have more than 5,200 partners and staff in offices across the country. "PricewaterhouseCoopers" refers to PricewaterhouseCoopers LLP, an Ontario limited liability partnership, or, as the context requires, the PricewaterhouseCoopers global network or other member firms of the network, each of which is a separate and independent legal entity.
