Saturday, August 30, 2008

Economic Impacts

For the 2008 Olympics in Beijing, they racked up over $1 billion in Olympic Sponsorships globally. The economic impacts are over $1 billion. Atlanta hosted the 1996 Olympics and a report says between 1991-1997 Atlanta had an economic impact of $1.3 billion because of the games, and 72% of that was 18 days prior, during and 18 days after the Olympics. A number like that could definitely be wonders for our local economy. Beijing had 500,000 4 and 5 star hotel room available for the Olympics and proved to be enough. I dont know how many hotel rooms are currently in the Seattle area, but its a bit short I'll guess. If Seattle was to host the 2028 Olympics, more hotels would be built before then and the economic impact could be over $2.0 billion after inflation. Sounds like a great tourism and state budget opportunity here.

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