The Economic Impact of Alberta’s Winter Olympic Legacy Events
Province-wide impacts from 4 winter legacy events showed a net province-wide economic impact (value-added) of approximately $10.6 million and approximately 157 person-years of employment.
Alberta Tourism, Parks and Recreation. (2013). The Economic Impact of Alberta’s Winter Olympic Legacy Events Edmonton, Alberta: Author.
The four (4) economic impact studies highlighted in this summary report provide a conservative snapshot of the economic legacy benefits being experienced annually through hosting events at these venues. The events examined in these reports (and summarized here) include:
- 2011 World Allround Speed Skating Championships
- 2011 Snowboard World Cup
- 2011 Canadian National Cross Country Ski Championships
2011 Lake Louise Winterstart World Cup
Economic impacts are only partially captured by assessing direct expenditures. All economies are complex with their own interdependent and interacting activities. Consequently, there are some indirect and induced impacts associated with all direct expenditures. These indirect and induced impacts can be larger than the direct impacts and are necessary to assess in order to capture a more accurate measure of the overall economic impact of an event.
The input data were all adjusted to net out expenditures that would otherwise be made in the economy in the absence of the event and/or to net out expenditures that are likely to not be re-circulated through either the local or provincial economy. This was accomplished by concentrating on the expenditures that can exclusively be attributed to the event and that
For example, all visitors from outside the local region create incremental tourism impact in the local region; whereas other Alberta visitors do not incremental province-wide impacts. The only visitor expenditures that are incremental to both the local region and to the province as a whole are those by other Canadian, USA and international visitors.
The economic impacts of incremental tourism from operational expenditures, capital projects and visitor expenditures were estimated separately and then rolled together to identify the total impacts of the event on the local, provincial and national economies.
EvidenceAggregate province-wide impacts from 4 winter legacy events:
- Visitor spending and operational expenditures from all four events was approximately $9 million
- These expenditures resulted in a net province-wide economic impact (value-added) of approximately $10.6 million
- Approximately 157 person-years of employment were generated province-wide as a result of expenditures attributed to these four events
- Over $3.99 million in total taxation revenue accrued to all three levels of government in 2011 as a result of province-wide impacts attributed to these four events. This included approximately:
- $2.64 million to the Federal Government
- $1.01 million to the provincial government, and
- $337,000 to the local governments province-wide