Submitted by: Submitted by barabaso
Views: 243
Words: 850
Pages: 4
Category: Business and Industry
Date Submitted: 11/15/2011 09:11 AM
Options for Dealing With Issues
The Vancouver Olympics of 2010 created a deficit for the province of Vancouver. With an initial
budget of $1.2 billion for the games, it did not seem to be creating much of a problem; what goes with
the games is the catch. When hosting the Olympics, the city is responsible for several activities which
must be upheld by the host city; some of these include the "removal" of homeless from the streets,
relocating homeless shelters, hiring extra city maintenance workers to bring the city to Olympic
standards, and provide funding to do all this. As a result of winning the bid for the Olympics, Vancouver
was forced to cut funding for other sectors such as education, health and ironically athletics (however,
after the games ended, funding towards athletics was increased to higher then what it was prior to the
games). For the actual cost of the games, I have consulted respected websites, but received varying
answers; from what I have found, the games cost Vancouver between $3 to $7 billion. In total, the
revenue for the 2010 games was an estimated $1.35 billion, not funding from sponsors, the Canadian
government, or the IOC. One of the most beneficial aspects to hosting the games was the construction
of new highways connecting whistler and Vancouver. With the old highway being notorious for
accidents/deaths, this new highway proved to be beneficial not only to athletes but for residence of
Vancouver. With the construction of this new highway, it gives the provincial government an option to
tax the highway seeing as how there is another route to get from Vancouver City to Whistler. I
personally believe that the hosting the Olympics is not the best economic decision for a Country, state
or province.
Funding which was directed towards the Olympics could have served a much better purpose for
the Provincial Government of British Columbia. An increase in funding towards...